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Monday, 19 February 2018

Earnings watch: EKH reports FY2017 results

EARNINGS WATCH- Our friends at Egypt Kuwait Holding (EKH) reported double-digit revenue growth in FY2017. The company posted net income of USD 138.2 mn, up from USD 69.8 mn in FY2016, on revenues of USD 413.7 mn, up from USD 351.2 mn the previous year, it said in a statement on Sunday (pdf). The year was “one of portfolio restructuring and investment streamlining with the aim of unlocking new value for shareholders,” Chairman Moataz Al-Alfi said. Management is optimistic going forward, saying the year ahead should see the company “carry out our expansion plans at operating businesses to build on this growth momentum, as well as continue investing in new ventures poised to substantially contribute to profitability,” the company added.

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