Cairo National for Investment moves to profitability in 9 months

Updated 11/14/2023 2:44:00 PM
Cairo National for Investment moves to profitability in 9 months

Arab Finance: Cairo National for Investment and Securities turned to profitability during the first nine months of 2023, according to financial statement filed to the Egyptian Exchange (EGX) on November 14th.

The company reported consolidated net profits attributable to the parent company of EGP 8.884 million in the nine-month period, against net losses of EGP 1.235 million in the same period of 2022.

Total consolidated operating revenues climbed to EGP 19.512 million from EGP 13.054 million.

Moreover, the company registered standalone net profits after tax of EGP 1.426 million from January to September, compared to net losses of EGP 3.378 million in the same period of last year

Cairo National invests in the start-up business and provides securities exchange-related services. Its main purpose is to promote and underwrite securities, participate in the establishment of companies that issue securities, and portfolio management.

 

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