Cairo – Mubasher: Arafa for Investment and Consultancies on Tuesday announced the inauguration of the first branch of the new store Brands Hub in Egypt.

EuroMed Trade, a subsidiary of Arafa Group, is seeking to reinforce its business in the Egyptian market by opening three branches of Brands Hub this year, in addition to other three branches next year, Arafa said in a statement to the Egyptian Exchange (EGX).

Brands Hub includes several sections for men’s, women’s, and kids’ wear, as well as accessories and shoes, according to the statement.

Arafa Group previously reported a 35.8% year-on-year rise in consolidated profits for the first half of 2018.

Net profit amounted to EGP 3.26 million in the six-month period ended June, versus EGP 2.4 million in the same period a year earlier.

Revenues grew to EGP 117.96 million at the end of June, versus EGP 114.37 million in H1-17.

As for the standalone business, the company has turned profitable in H1-18 with EGP 3.48 million, against a net loss of EGP 531,900 in the year-ago period.