Mubasher TV
Contact Us Advertising   العربية

B Investments sees lower consolidated profits in 9M-23

B Investments sees lower consolidated profits in 9M-23
Photo Archive
B Investments Holdings
1.17% 21.60 0.25

Cairo – Mubasher: B Investments Holding posted an annual drop in consolidated net profits after tax to EGP 619.44 million during the first nine months (9M) of 2023, versus EGP 998.92 million, including non-controlling interest.

Other revenues amounted to EGP 448.82 million in 9M-23, down year-on-year (YoY) from EGP 1.32 billion, according to the consolidated financial statements.

Basic and diluted profit per share reached EGP 2.72 in January-September 2023, compared to EGP 4.04 a year earlier.

Total assets hit EGP 3.64 billion in 9M-23, compared to EGP 4.30 billion as of 31 December 2023.

Standalone Business

B Investments posted standalone net profits after tax valued at EGP 463.58 million as of 30 September 2023, an annual surge from EGP 67.77 million.

Non-consolidated revenues hiked to EGP 542.47 million in 9M-23 from EGP 71.87 million in 9M-22, while the basic earnings per share (EPS) widened to EGP 2.83 from EGP 0.42 a year earlier.

Financials for Q3-23

During the third quarter (Q3) of 2023, the company registered EGP 65.47 million in consolidated net profit after tax, versus EGP 938.46 million in Q3-22, including minority interest.

The revenues plunged to EGP 104.37 million in Q3-23 from EGP 1.26 billion during July-September 2022, while the EPS retreated to EGP 0.39 from EGP 3.66.

Non-consolidated net profits after tax increased to EGP 95.46 million in July-September 2023 from EGP 9.06 million in Q3-22, while the revenues hiked to EGP 130.39 million from EGP 14.23 million.

In the first half (H1) of 2023, the firm recorded higher consolidated net profits after tax at EGP 553.97 million, which marked a YoY leap from EGP 60.45 million, minority shareholders’ rights.