AIND reports record EGP 72.7 mn net profit in 2018
EARNINGS WATCH- B Investments posted net profits of EGP 194 mn in 2018, a 46% increase from the EGP 133 mn net profit reported in 2017, according to the company’s earnings statement (pdf). This was driven by a 43% rise in revenues, which increased to EGP 245 mn in 2018 from EGP 172 mn the previous year. B Investments is an active growth capital investor managed by BPE Partners.
Arabia Investments Holding reported a net profit after tax of EGP 72.7 mn in 2018, compared to a net loss of EGP 180.3 mn in 2017 as the company delivered its best-ever full-year results, according to the company’s earnings release (pdf). The company, noting it has a new anchor shareholder and management team, also said it has “resolved EGP 300+ mn of legacy dues.”
CORRECTION- We mistakenly said in Thursday’s issue that CIB and the Arab African International Bank are arranging a EGP 1.7 mn loan for Wadi Degla Holdings. The correct size of the loan is EGP 1.7 bn. The story has since been corrected on our website.