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Monday, 18 March 2019

Earnings watch: Cleopatra, Beltone Financial report 2018 results

EARNINGS WATCH- Cleopatra Hospitals Group reported a 168% y-o-y increase in net profit in 4Q2018 to EGP 90.2 mn, up from EGP 33.6 mn in 4Q2017, according to the company’s earnings release (pdf). Revenues for the quarter stood at EGP 394 mn, up 27% y-o-y from EGP 309.6 mn in the same period last year. Higher volumes and favorable pricing supported revenue and net profit growth as they “concluded a very successful 2018 with yet another quarter of strong top and bottom-line growth,” CEO Ahmed Ezzeldin said. “I’m also pleased to announce that the first of the two newly established polyclinics is now fully operational with the second expected to come online in the coming months,” Ezzeldin added.

Beltone Financial reported a net loss of EGP 82.4 mn in 2018, compared to a net profit of EGP 3.2 mn in 2017, according to a bourse filing. Revenues increased to about EGP 707 mn compared to EGP 696.7 mn a year earlier.

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