Cairo – Mubasher: CI Capital Holding announced that its board of directors has given in-principle approval to establish a company for selling consumer durable goods through instalment payment plans.
The Cairo-based diversified financial services group's chairman and managing director will start implementing the procedures for establishing the new company, according to a statement to the Egyptian Exchange (EGX) on Thursday.
During the first quarter of 2019, the Egyptian firm logged a net profit of EGP 130.27 million, compared to EGP 92.18 million in the year-ago period.
Year-on-year, revenues rose to EGP 694.88 million in the three-month period ended 31 March from EGP 522.99 million.
As for standalone business, CI Capital’s profit stood at EGP 70.34 million in Q1-19, compared to EGP 12.84 million in Q1-18.
