Al Ahly for Investment’s consolidated profit drops by 38.5% YoY in Q1
Updated 7/21/2022 9:54:00 AM
Arab Finance: Al Ahli for Investment and Development (AFDI) reported a 38.51% year-on-year (YoY) decline in consolidated profit attributable to the parent company during the first quarter (Q1) of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on July 21st.
The company’s consolidated profit excluding minority interest amounted to EGP 3.141 million in Q1 2022, down from EGP 5.109 million in the same period a year earlier.
Total revenue surged to EGP 17.927 million in the three-month period ended March 31st from EGP 13.042 million in the year-ago period.
It is worth noting that AFDI’s standalone net loss after tax grew 35% YoY to EGP 3.856 million in Q1 2022.
Al Ahly for Investment is an Egypt-based company engaged in the provision of investment services within the Egyptian and regional capital markets.
The company offers its services through six segments of non-banking operations; corporate finance, investment banking, research and analysis, capital markets, and asset management.
