Beltone Holding Reports 405%, 1,218% Surge In Revenue, Profit, Respectively
Date
11/23/2024 3:23:38 AM
(MENAFN- Daily News Egypt) Beltone Holding (BTFH) announced its consolidated financial and operational results for the nine months ending 30 September 2024.
Beltone's growth strategy continued to yield impressive results with the Company's consolidated operating revenue increasing 405% year-on-year to reach EGP 4.8bn. In terms of profitability, Beltone achieved a net profit of more than EGP 1.13bn in 9M 2024, up significantly from EGP 86m in 9M 2023.
Dalia Khorshid, Group CEO and Managing Director of Beltone Holding, commented,“Achieving record net profit and crossing the EGP 1bn for the first time, is a testament to the group's ability to deliver on its transformation strategy and to generate growth while delivering sustainable profitability.
Beltone's NBFIs platform witnessed growth across all subsidiaries, with operating revenue rising 757% year-on-year to reach EGP 3.9bn in 9M 2024. The platform's outstanding portfolio exceeded EGP 18.7bn due to increased business activity and the expansion of its product portfolio that includes, leasing, factoring, consumer, micro, mortgage, and the newly launched SME financing.
Beltone Venture Capital executed six equity and follow-up investments in 9M 2024, and successfully increased its managed portfolio to more than EGP 1.5bn. While on the direct investment front, Beltone Capital reported EGP 213.4m in operating revenues.
Furthermore, the investment bank platform's robust performance continued, with its operating revenue growing 282% year-on-year to record EGP 852m in 9M 2024, driven by the expansion of brokerage operations, alternative advisory solutions, and higher asset management performance fees. Meanwhile, the investment bank's outstanding portfolio reached EGP 3.5bn, up 465% year-on-year.
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