(MENAFN- Daily News Egypt) Post for Investment (PFI) reported a significant revenue increase of 30.7% in 2023, reaching EGP 1.13bn, up from EGP 868m in 2022. The company's net profit also rose to EGP 664m, marking a 32.4% growth compared to the previous year's EGP 502m.
This financial growth is attributed to enhanced cash distributions from PFI's sister and subsidiary companies, bolstered by the robust performance of its investment portfolio. Consequently, PFI achieved an impressive annual rate of return of 19.95%.
PFI's total profits surged by 27%, totalling EGP 751m in 2023. The net profit margin improved slightly from 57.8% in 2022 to 58.6% in 2023. Operational efficiency remained stable at 37.9%, reflecting a decrease from 39.4% in the prior year. Additionally, returns on equity and assets significantly improved to 9.6% and 8.8%, respectively, up from 7.6% and 7.2% in 2022.
In line with its refined investment strategy, PFI reclassified its investments and established clear decision-making mechanisms, deal management, and direct investment follow-ups. The strategy's primary objective is to maximize returns and enhance profitability.
PFI has laid the groundwork for active and effective subsidiary management, adopting a model of an effective partnership. The company has also revamped its performance management rules and annual worker evaluations to foster a culture of performance and open communication.
The establishment of PFI for Asset Management marks a milestone in PFI's plan to diversify revenue sources from additional clients. PFI has also made strategic investments, acquiring a 20% stake in the logistics platform Roaderz and a 5% share in Bareedy, in collaboration with Egypt Post, which will offer registered email services for the first time in Egypt.
PFI is committed to supporting projects that enhance Egypt Post's infrastructure, furthering financial inclusion, and digital transformation, and offering investment and savings products to customers.
The company plans to invest available cash in the non-banking financial and logistics sectors, aligning with its investment strategy and continuing to explore numerous investment opportunities presented by Egypt Post.
Established under the auspices of the General Investment Authority's Decision No. 1120 of 2006 and Law No. 159 of 1981, Post for Investment (PFI) serves as the dynamic investment arm of Egypt Post. PFI's core mission is to channel investments into the Egyptian market, consistently generating substantial economic value.
With a robust capital base of EGP 5.9bn, PFI strategically deploys its resources to secure long-term financial gains while simultaneously fostering a significant social impact.
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