Cairo – Mubasher: B Investments Holdings posted a 47.7% year-on-year increase in consolidated profits for the full-year ended 31 December 2018.
Net profit amounted to EGP 194.48 million last year, compared to EGP 131.65 million in 2017, the company said in a filing to the Egyptian Exchange (EGX).
The company’s revenue totalled EGP 245.44 million at the end of December 2018, versus EGP 171.57 million in 2017.
Meanwhile, standalone profits rose to EGP 70.6 million in 2018, compared to EGP 45.28 million a year earlier.
In the same vein, B Investments’s board of directors has proposed a cash dividend distribution of EGP 80 million or EGP 0.50 per share to shareholders for FY18.
The ordinary general meeting (OGM) is set to discuss the dividend proposal, according to the statement.
It is worth noting that B Investments previously recorded a net profit of EGP 147.84 million in the first nine months of 2019, compared to EGP 96.75 million in the corresponding period of 2017, including minority shareholders’ rights.
