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Monday, 1 April 2019

Earnings watch: BdC, Domty, B Investments, NBE

EARNINGS WATCH- Banque du Caire reported a significant 221.5% jump in net profit after tax to EGP 2.5 bn in 2018, up from EGP 800 mn a year earlier, Al-Ahram reports. “The year 2018 was a turning point for the bank’s strategy, with achievements across all departments,” Chairman and CEO Tarek Fayed said. This came on the back of management’s focus on developing BdC’s core banking system and human resource capabilities. The bank has also recently inaugurated a representation office in the UAE. The state-owned bank is part of the lineup in the government’s privatization program.

The National Bank of Egypt reported a net profit after tax of EGP 10.1 bn in FY 2017-2018, according to Al Mal. NBE’s loan portfolio reached EGP 368 bn in June 2018, up 12 y-o-y.

Cheese producer Domty reported a net profit of EGP 154.6 mn in 2018, up from EGP 61.5 mn in 2017, according to the company’s earnings release (pdf). The company’s revenues for the year came in at EGP 2.59 bn, up from EGP 2.25 bn in 2017.

B Investments is proposing a EGP 80 mn dividend payout for 2018 at EGP 0.50 / share, the company announced in its earnings for the year. The company posted net profits of EGP 194 mn in 2018, marking a 46% increase from EGP 133 mn the previous year.

Correction: 1 April, 2019

An earlier version of this article incorrectly said Domty’s revenues for the year came in at EGP 613.4 mn, down from EGP 615 mn in 2017. The company’s revenues for the year came in at EGP 2.59 bn, up from EGP 2.25 bn in 2017.

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