Cairo – Mubasher: Beltone Financial Holding announced turning to profitability during the second quarter of 2017 due to brokerage revenues, according to a bourse filing on Sunday.
The company achieved profits of EGP 13.5 million in Q2-17, against losses of EGP 9.12 million in Q2-16.
Revenues amounted to EGP 174.6 million in Q2-17 from EGP 13.2 million in Q2-16.
In the first half of 2017, net loss reached EGP 449,580, versus net profits of EGP 4.16 million in H1-16.
Standalone losses rose to EGP 4.5 million in H1-17 from EGP 2.3 million in H1-16.
The Egyptian firm’s losses amounted to EGP 14.02 million in the three months ended March from EGP 13.28 million in the corresponding period of 2016.
Beltone Financial’s stock closed Thursday’s trading session 2.25% down to EGP 14.78.
