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EMPC’s consolidated profits jump 77% in 2023

EMPC’s consolidated profits jump 77% in 2023
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Media Production City
0.36% 16.70 0.06

Cairo – Mubasher: The consolidated net profits after tax of Egyptian Media Production City Company (EMPC) hiked by 77.07% to EGP 481.69 million in 2023 from EGP 272.04 million in 2022.

Revenues witnessed a 31.22% year-on-year (YoY) surge to EGP 874.59 million as of 31 December 2023, compared to EGP 666.50 million, according to the consolidated financial statements.

Meanwhile, the basic earnings per share (EPS) jumped by 77.07% YoY EGP 2.29 in 2023 from EGP 1.29.

Standalone Results

Non-consolidated net profits after tax hit EGP 365.88 million last year, marking a 54.21% jump from EGP 237.26 million in the January-December 2022 period.

The standalone revenues enlarged by 20.11% YoY to EGP 735.98 million in 2023 from EGP 612.77 million, while the EPS increased by 54.21% YoY to EGP 1.74 from EGP 1.13.

In the first nine months (9M) of 2023, EMPC registered 119.20% higher consolidated net profits at EGP 347.43 million, compared to EGP 158.49 million in 9M-22, including minority interest.