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EFG Hermes’ consolidated profits cross EGP 906m in H1-22

EFG Hermes’ consolidated profits cross EGP 906m in H1-22
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EFG Holding
HRHO
-1.44% 17.84 -0.26

Cairo – Mubasher: Egyptian Financial Group Hermes Holding (EFG Hermes) generated EGP 906.80 million in consolidated net profit after tax during the first half (H1) of 2022, higher than EGP 754.95 million in H1-21.

The gross revenues soared to EGP 3.98 billion in the first six months (6M) of 2022, compared to EGP 2.84 billion in the year-ago period, according to the income statements.

During the second quarter (Q2) of 2022, the consolidated net profits after tax increased to EGP 458.69 million, versus EGP 442.82 million in Q2-21.

Meanwhile, the consolidated gross revenues amounted to EGP 2.04 billion in Q2-22, up from EGP 1.59 billion during the same period a year earlier.

As for the standalone businesses, EFG Hermes posted a hike in net profit after tax to EGP 2.85 billion in H1-22, compared to EGP 307.32 million in H1-21.

The non-consolidated gross revenues amounted to EGP 3.33 billion in the January-June 2022 period, a leap from EGP 580.81 million during the corresponding period in 2021.

Additionally, the earnings per share (EPS) jumped to EGP 2.44 in H1-22 from EGP 0.28 in H1-21.

In the April-June 2022 period, the listed firm achieved standalone net profits worth EGP 137.32 million, compared to EGP 92.96 million in Q2-21.

The standalone gross revenues enlarged to EGP 382.48 million in Q2-22 from EGP 242.15 million in Q2-21, while the EPS grew to EGP 0.12 from EGP 0.08.

During January-March 2022, the company witnessed a 43.50% year-on-year (YoY) hike in consolidated net profit after tax to EGP 448.10 million, compared to EGP 312.13 million.