Egypt- B Investments' net profit records 50% increase in 9M18
Date
11/17/2018 2:32:00 AM
(MENAFN- Daily News Egypt) B Investments Holdings, Egypt's private equity firm, announced that its net income after tax reported a year-over-year (y-o-y) growth of 50% to reach EGP 147m in the first nine months of 2018 (9M18), according to the company's financial results on Thursday.
The results revealed that the company has achieved a net income margin of 79% in 9M18.
The company has achieved consolidated revenues of EGP 187m, compared to EGP 118m recorded in 9M17 and implying a 59% y-o-y growth.
'The growth in revenues was mainly derived from the dividends declaration and the share of profits from the portfolio companies, in addition to the finance income. The earnings before tax grew by 61% to reach EGP 159m, despite one-off consultancy fees of EGP 8m,' the report read.
Hazem Barakat, chairperson of B Investments said, 'Our current portfolio companies continue to deliver impressive results, and remain on a growth trajectory as we continue to work closely with our partner companies. We are very excited about our recent investment in Gourmet Group, as we believe the company is on a path to deliver solid growth in the coming period.'
B Investments is an Egypt-based, Egypt-focused private equity company established in 2006. B Investments' portfolio investments include Madinet Nasr for Housing and Development; TOTAL Egypt; Giza Systems; Ebtikar for Financial Investment; Infinity Solar Assets (3 solar power generating assets in Benban, Egypt) and Gourmet Egypt.
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