B INVESTMENTS HOLDING
BINV
Cash DividendsNegative News
B Investments Holding Reports 47% Drop in 2023 Consolidated Profit Amid Challenging Market Conditions
B Investments Holding's 2023 consolidated profit plunges 47% to EGP 694 million as earnings per share and standalone net income decline significantly.
April 1, 2024 at 2:28:00 PMScore: 85
B Investments Holding (BINV) concluded 2023 with a consolidated net profit of EGP 693.76 million, a significant decline from EGP 1.33 billion in 2022. Earnings per share (EPS) fell to EGP 3.17 from EGP 5.25 year-over-year. Standalone net profit also dropped to EGP 484.39 million, down from EGP 860.89 million in 2022. Despite the downturn, the board approved a cash dividend of EGP 1 per share for 2023. The company’s 9-month 2023 consolidated profit stood at EGP 619.44 million, compared to EGP 998.92 million in the same period the previous year.
Recommended Actions
- Consider holding off on new purchases until financial stability improves.
- Monitor quarterly updates for signs of recovery in profitability.
- Review dividend sustainability given reduced earnings.
- Compare performance against sector peers to gauge relative weakness.
- Consult a financial advisor to reassess portfolio exposure.
Positive Aspects
- Dividend distribution of EGP 1 per share maintained despite losses
Negative Aspects
- 47% drop in consolidated net profit
- 51% decline in earnings per share
- Reduced standalone net profit by 44%
- Weaker 9-month financial performance
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