Cairo – Mubasher: Gadwa for Industrial Development posted consolidated net profits after tax worth EGP 214.72 million in the first quarter (Q1) of 2023, an annual leap from EGP 43.17 million, including minority interest.

The revenues climbed to EGP 2.85 billion in January-March 2023 from EGP 1.59 billion in Q1-22, according to income statements.

Earnings per share (EPS) amounted to EGP 0.13 in Q1-23, up from EGP 0.01 as of 31 March 2022.

Standalone Financial Results

Gadwa turned profitable at EGP 628,700 during the first three months (3M) of 2023, compared to standalone net losses after tax of EGP 4.34 million in 3M-22.

Non-consolidated EPS stood at EGP 0.001 during Q1-23, versus a loss per share valued at EGP 0.004 in the year-ago period.

During the September 2021-December 2022 period, the company’s consolidated net profits after tax totalled EGP 470.17 million.