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CI Capital Holding's profit falls 17% in Q1-20

CI Capital Holding's profit falls 17% in Q1-20
Revenues decreased to EGP 494.511 million
CI Capital Holding
CICH
-0.21% 4.79 -0.01

Cairo – Mubasher: The consolidated financial statements of CI Capital Holding For Financial Investments showed a 17% year-on-year (YoY) drop in its net profits during the first quarter of 2020.

The company achieved net profits of EGP 101.85 million in the January-March period, compared to EGP 122.95 million in the year-ago period, according to a bourse disclosure on Monday.

In the meantime, revenues decreased to EGP 494.511 million in Q1-20 from EGP 543.74 million in Q1-19.

As for standalone business, CI Capital Holding’s net profits surged to EGP 171.808 million in the three-month period ended on 31 March, compared to EGP 70.34 million in the prior-year period.

It is worth mentioning that for the full-year 2019, the company’s net profits jumped to EGP 621.15 million from EGP 425.31 million in 2018.