Cairo – Mubasher: CI Capital Holding for Financial Investments registered consolidated net profits amounting to EGP 1.31 billion in the first half (H1) of 2024, versus EGP 532 million in H1-23.

Total revenues reached EGP 4.99 billion in H1-24, higher by 61% year-on-year (YoY) than EGP 3.10 billion, according to the financial statements.

The assets amounted to EGP 29.87 billion in H1-24, up from EGP 25.40 billion as of 31 December 2023.

Standalone Financials

The group recorded an annual rise in standalone net profit after tax to EGP 483.93 million during January-June 2024, compared to EGP 437.30 million.

Earnings per share (EPS) increased to EGP 0.44 in H1-24 from EGP 0.39 a year earlier.

Results for Q2

The EGX-listed firm posted consolidated profits of EGP 319.59 million in the second quarter (Q2) of 2024, versus EGP 202.16 million in Q2-23. The revenues hiked to EGP 2.12 billion from EGP 1.49 billion.

Non-consolidated net profits dropped to EGP 27.71 million in April-June 2024 from EGP 86.16 million in Q2-23, while the EPS plummeted to EGP 0.02 from EGP 0.07.

The Group CEO of CI Capital, Hesham Gohar, commented: “The group successfully delivered outstanding operational and financial results in H1-24, despite an abundance of challenges that have swept the NBFS landscape during Q2-24, particularly in a relatively condensed fiscal quarter, with a large volume of public holidays.”

“Through prudent management and an ingrained performance culture, CI Capital continues to cement its leadership position in the Egyptian market across its lines of business,” Gohar added.

In Q1-24, the consolidated net profits after tax and minority interest jumped by 194% YoY to EGP 939.46 million from EGP 319.65 million.