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B Investments unveils higher net profits in Q1-23, dividends proposal

B Investments unveils higher net profits in Q1-23, dividends proposal
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B Investments Holdings
-0.48% 16.58 -0.08

Cairo – Mubasher: The consolidated net profits after tax of B Investments Holding widened to EGP 463.83 million during the first quarter (Q1) of 2023 from EGP 22.30 million in Q1-22, including non-controlling equity.

Revenues amounted to EGP 64.50 million during the January-March 2023 period, an annual hike from EGP 14.81 million, according to the interim financial results.

The basic earnings per share (EPS) stood at EGP 2.04 during Q1-23, versus EGP 0.14 in the year-ago period.

Standalone Income Statements

In the first three months (3M) of 2023, the EGX-listed firm logged standalone net profits after tax amounting to EGP 258.14 million, higher than EGP 22.75 million in 3M-22.

Non-consolidated basic EPS climbed to EGP 1.58 as of 31 March 2023 from EGP 0.14 in Q1-22, while the revenues soared to EGP 251.52 million from EGP 15.25 million.

Dividends Proposal

The board members of B Investments greenlighted a dividend distribution of EGP 1 per share for Q1-23. Meanwhile, the dividends proposal is still subject to the approval of the company’s shareholders.

Last year, the group posted higher consolidated net profits after tax at EGP 1.33 billion from EGP 105.30 million in 2021, including minority interest.