Cairo - Mubasher: e-finance for Digital and Financial Investments generated higher consolidated net profits at EGP 784.56 million in the first half (H1) of 2024, compared to EGP 726.10 million in H1-23.

The sales reached EGP 2.28 billion in H1-24, up 32% year-on-year (YoY) from EGP 1.73 billion, according to the consolidated financial results.

Earnings per share (EPS) declined to EGP 0.32 in the January-June 2024 period from EGP 0.34 in H1-23.

Total assets hit EGP 8.56 billion as of 30 June 2024, versus EGP 7.63 billion at the end of December 2023.

Standalone Results

In the first six months (6M) of 2024, e-finance logged standalone net profits after tax valued at EGP 560.04 million, an annual leap from EGP 390.22 million.

Non-consolidated EPS increased to EGP 0.20 in H1-24 from EGP 0.18 in the January-June 2023 period, while the revenues enlarged to EGP 563.07 million from EGP 362.22 million.

Financials for Q2-24

During the second quarter (Q2) of 2024, the consolidated net profit shrank to EGP 312.30 million from EGP 440.63 million a year earlier. Net sales climbed by 17% to EGP 1.13 billion from EGP 967.46 million.

Meanwhile, the EGX-listed firm registered EGP 13.37 million in standalone net profit during Q2-24, down YoY from EGP 62.27 million. The sales plummeted to EGP 34.45 million from EGP 53.75 million.

In the three-month period that ended on 31 March 2024, the group reported 64% YoY leap in consolidated net profit after the non-controlling interest (NCI) to EGP 462.50 million.