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Egypt Kuwait Holding logs $218m consolidated net profit in 2023

Egypt Kuwait Holding logs $218m consolidated net profit in 2023
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EKH
EKHO
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Cairo – Mubasher: Egypt Kuwait Holding (EKH) posted a consolidated net profit of $217.81 million in 2023, down from $362.08 million a year earlier.

Revenues also dropped to $747.70 million last year from $1.05 billion in 2022, according to the consolidated financial statements.

The basic and diluted earnings per share (EPS) reached $13.93 in 2023, down from $18.43 the year before.

Standalone financial results

Moreover, EKH’s standalone net profit after tax declined to $81.27 million in the 12-month that ended on 31 December 2023 from $86.18 million a year earlier.

However, total operating revenue rose to $129.59 million last year from $95.30 million in 2022.

Cash Dividends

Egypt Kuwait Holding’s board of directors approved the disbursement of $67.61 million in cash dividends, or $0.06 per share, for 2023, representing 24% of the nominal value of the company’s stock.

It is worth noting that EKH’s net profits grew to $312.09 million during the first nine months (9M) of 2022, versus $173.09 million in the year-ago period.