Cairo – Mubasher: Beltone Financial Holding shifted to net losses after taxes of EGP 105.58 million during the first half (H1) of 2022, against net profits of EGP 8.54 million in H1-21. 

Loss per share was EGP 0.26 during the January-June period in 2022, compared to a profit per share of EGP 0.02 in the year-ago period, according to a bourse filing on Wednesday.

The company’s total revenues dropped to EGP 110.39 million during H1 of 2022, compared to EGP 193.82 million in H1-21.

As for the standalone business, the company’s net losses after tax declined to EGP 37.41 million in H1-22, from EGP 39.52 million in H1-21.

In the second quarter (Q2) of 2022, the holding firm registered net losses after taxes of EGP 109.42 million, versus net profits of EGP 4.74 million in the same quarter in 2014. Meanwhile, loss per share recorded EGP 0.28 in Q2-22, compared to a profit per share of EGP 0.01 in Q2-21.

In addition, total revenues came in at EGP 3.13 million in Q2-22, down from EGP 95.87 million in Q2-21.

During the first three months (3M) of 2022, the consolidated net profits of Beltone rose to EGP 3.83 million, compared to EGP 3.80 million in the year-ago period, including minority shareholders' rights.