Cairo – Mubasher: TAQA Arabia logged consolidated net profit after tax amounting to EGP 167.27 million in the first half (H1) of 2023, an annual drop of 13% from EGP 192.35 million.

Revenues stood at EGP 6.15 billion during the January-June 2023 period, up 29% year-on-year (YoY) from EGP 4.78 billion, according to the consolidated financial results.

The basic earnings per share (EPS) retreated by 13% to EGP 0.12 in H1-23 from EGP 0.14 in H1-22.

Standalone Business

During the first six months (6M) of 2023, the EGX-listed firm witnessed 39% higher standalone net profits after tax at EGP 103.29 million, compared to EGP 74.39 million in 6M-22.

Non-consolidated revenues enlarged by 67% YoY to EGP 198.80 million as of 30 June 2023 from EGP 118.88 million, while the basic EPS hiked by 33% YoY to EGP 0.08 from EGP 0.06.

In the three-month period that ended on 31 March 2023, TAQA Arabia generated revenues valued at EGP 2.90 billion, an annual growth of 27% from EGP 2.30 billion.

Last July, the company listed its shares on the Egyptian Exchange (EGX) and recorded a block trading deal worth EGP 3.69 billion.