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3 March 05:37 PM Madinet Masr offers to develop 3 lands with Heliopolis Company
Cairo – Mubasher: Heliopolis Company for Housing and Development has received a technical and financial offer for the development of three plots of land in New Heliopolis City in partnership with Madinet Masr Housing and Development. The three …
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3 March 04:36 PM EGX closes week’s 1st session with mixed performance
Cairo – Mubasher: The Egyptian Exchange (EGX) ended Sunday’s session with varied performance, and the main index, EGX30, edged higher by 0.32% to end at 29,058.33 points. On the other hand, the EGX70 index decreased by 0.20% to end at 7,291.98 …
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3 March 04:13 PM GB Corp’s consolidated profit tumbles 83% YoY in 2023
Cairo – Mubasher: GB Corp’s consolidated net profit after tax dropped 82.80% year-on-year (YoY) to EGP 1.81 billion in 2023 from EGP 10.53 billion a year earlier. Consolidated operating revenues declined to EGP 28.31 billion last year from EGP …
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3 March 02:10 PM Beltone Leasing pens EGP 925m factoring deal for Redcon Properties
Cairo – Mubasher: Beltone Leasing and Factoring, a subsidiary of Beltone Holding, has signed an EGP 925 million syndicated factoring deal for Redcon Properties. The agreement is aimed at providing financial support to Redcon Properties, the real …
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3 March 01:45 PM EFIC’s consolidated profit dips to EGP 700m in 2023
Cairo – Mubasher: Egyptian Financial and Industrial Company (EFIC) reported a consolidated net profit after tax of EGP 700.34 million in 2023, down from EGP 755.85 million a year earlier. On the other hand, consolidated net sales soared to EGP …
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3 March 01:29 PM Emaar Misr records EGP 6.8bn consolidated profit in 2023
Cairo – Mubasher: Emaar Misr for Development logged a consolidated net profit after tax of EGP 6.81 billion in 2023, versus EGP 6.56 billion a year earlier. Consolidated revenues grew to EGP 15.09 billion last year from EGP 14.73 billion in 2022, …
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3 March 12:52 PM TMG Holding’s ICON finalises acquisition of 7 historic hotels in Egypt
Cairo – Mubasher: Talaat Moustafa Group Holding Company (TMG Holding) announced completing all procedures for the acquisition of a 51% stake in the management rights of Legacy Hospitality and Touristic Projects, which owns seven historic hotels in …
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3 March 12:18 PM Egypt Aluminum targets over EGP 4bn profits in FY24/25
Cairo – Mubasher: Egypt Aluminum is expecting to achieve a net profit of EGP 4.26 billion during the fiscal year (FY) 2024/2025, down from EGP 4.85 billion estimated in FY2023/2024. The company seeks to generate EGP 26.69 billion in total sales …
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3 March 11:21 AM Agthia raises stake in Egypt-based Auf Group to 70%
Abu Dhabi – Mubasher: Agthia Group has completed the acquisition of an additional 10% shareholding in Egypt-based healthy snacks and coffee manufacturer and retailer Auf Group. Through this transaction, the ADX-listed group increased its equity …
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3 March 10:54 AM Suez Canal Bank registers higher profits in 2023, capital hike proposal
Cairo – Mubasher: Suez Canal Bank achieved EGP 2.29 billion in net profit after tax during 2023, an annual growth from EGP 1.04 billion. Net interest income amounted to EGP 3.24 billion as of 31 December 2023, marking a year-on-year (YoY) hike …
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3 March 10:48 AM ADIB Egypt withdraws acquisition offer of Cairo National for Investment
Cairo – Mubasher: Abu Dhabi Islamic Bank – Egypt (ADIB Egypt) has withdrawn a mandatory tender offer (MTO) to acquire the free float shares of Cairo National for Investment and Securities company. The offer was originally submitted on 14 December …
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3 March 10:31 AM B Investments’ board nods to $3m investments into Basata
Cairo – Mubasher: B Investments Holding’s board of directors has approved investing $3 million in Basata Holding for Financial Payments and its affiliates. The investment is set to fund Basata’s regional expansion plan, according to a bourse …
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3 March 10:01 AM CBE issues T-bills worth EGP 50bn on Sunday
Cairo – Mubasher: The Central Bank of Egypt (CBE) announced treasury bills (T-bills) at a combined value of EGP 50 billion through two equal issues on Sunday, 3 March 2024. Each auction was valued at EGP 25 billion, according to the CBE's official …
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29 February 06:08 PM FAB’s unit in Egypt records 131% leap in 2023 profits
Cairo – Mubasher: First Abu Dhabi Bank Misr (FABMISR), a business of the UAE listed FAB operating in Egypt, achieved a 131% year-on-year (YoY) jump in net profit to EGP 10.40 billion in 2023, according to the financial statements. The net loans …
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29 February 04:38 PM Saudi Sumou, Egypt’s Hassan Allam pen development agreement
Mubasher: Saudi Sumou Holding and Hassan Allam inked a development agreement for key investment opportunities in the real estate sector, according to a press release. ADEER International Egypt, a subsidiary of ADEER Holding and Sumou Holding, …
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29 February 04:32 PM Egyptian Exchange’s indices end Thursday in green
Cairo – Mubasher: The Egyptian Exchange (EGX) closed in the green territory on Thursday, and the main index, EGX30, inched higher by 0.30% to end at 28,964.41 points. The EGX70 index increased by 0.24% to end at 7,306.89 points, while the EGX100 …
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29 February 03:11 PM Electro Cable Egypt logs EGP 1.24bn consolidated net profit in 2023
Cairo – Mubasher: Electro Cable Egypt registered a consolidated net profit after income tax of EGP 1.24 billion in 2023, a surge from EGP 542.24 million a year earlier. Sales leapt to EGP 8.67 billion last year from EGP 5.69 billion in 2022, …
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29 February 02:42 PM Ataqa registers EGP 735m net profit in 2023
Cairo – Mubasher: Misr National Steel (Ataqa) recorded a net profit after tax of EGP 734.86 million in 2023, an annual hike from EGP 234.72 million a year earlier. Sales grew to EGP 2.72 billion last year from EGP 2.48 billion in 2022, according …
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29 February 01:51 PM Arabian Cement’s consolidated net profit records over EGP 697m in 2023
Cairo – Mubasher: The consolidated net profits after income tax of Arabian Cement Company surged to EGP 697.49 million in 2023 from EGP 358.98 million a year earlier. Net sales jumped to EGP 6.04 billion last year from EGP 4.67 billion in 2022, …
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29 February 01:24 PM ElSaeed Contracting reports EGP 119m consolidated net profit in 2023; dividends proposed
Cairo – Mubasher: ElSaeed Contracting and Real Estate Investment Company posted a consolidated net profit after income tax of EGP 119.08 million in 2023 from EGP 104.01 million last year. Operations revenue increased to EGP 2.69 billion last year …
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29 February 12:44 PM EIPICO’s consolidated profit hits EGP 823m in 2023
Cairo – Mubasher: Egyptian International Pharmaceutical Industries (EIPICO) registered a consolidated profit for the year after tax of EGP 823.30 million in 2023 from EGP 643.76 million a year earlier. Net sales surged to EGP 5.23 billion last …
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29 February 11:15 AM e-finance logs 56% YoY higher consolidated profit in 2023; dividends ratified
Cairo - Mubasher: e-finance for Digital and Financial Investments posted a 56.40% year-on-year (YoY) surge in consolidated net profit after the non-controlling interest (NCI) to EGP 1.25 billion in 2023 from EGP 803.90 million. Total consolidated …
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29 February 10:48 AM Naeem Holding’s accumulated losses near 28% of capital
Mubasher: Naeem Holding for Investment incurred accumulated losses valued at $60.01 million at the end of the fourth quarter (Q4) of 2023, according to a bourse disclosure.   The registered losses, which account for 27.73% of the paid-up capital, …
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29 February 10:20 AM CBE offers EGP 60bn T-bills on Thursday
Cairo – Mubasher: The Central Bank of Egypt (CBE) issued treasury bills (T-bills) worth EGP 60 billion through two offerings on Thursday, 29 February 2024. The first issue was valued at EGP 30 billion and will mature in 182 days on 3 September …
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28 February 04:39 PM Egypt's fintech MoneyHash raises $4.5m Seed round
Cairo – Mubasher: Egyptian fintech MoneyHash, the first and leading payment orchestration platform in the MEA region, has secured a $4.50 million Seed funding round, according to a press release. The fundraising transaction was led by COTU …