B INVESTMENTS HOLDING
BINV
Financial ResultsPositive News
B Investments Holding Soars with EGP 892M Profit Windfall in Q1 2024
B Investments Holding reports a significant profit surge in Q1 2024, driven by revenue growth and asset expansion.
May 30, 2024 at 2:56:00 PMScore: 92
B Investments Holding (BINV) delivered stellar results in Q1 2024, with net profits attributable to shareholders surging to EGP 891.78 million—more than double the EGP 331.12 million reported in Q1 2023. Revenues skyrocketed to EGP 230.05 million, a significant jump from EGP 64.50 million year-on-year. Basic and diluted earnings per share (EPS) leaped to EGP 5.57 from EGP 2.04, reflecting robust growth. Total assets climbed to EGP 4.83 billion by March 31, 2024, up from EGP 3.62 billion at the end of 2023. On a standalone basis, net profits after tax reached EGP 700.59 million, compared to EGP 258.14 million in Q1 2023, with non-consolidated EPS rising to EGP 4.38 from EGP 1.58. Despite a dip in 2023 consolidated net profits to EGP 693.76 million (down from EGP 1.33 billion in 2022), the Q1 2024 performance signals a strong recovery.
Recommended Actions
- Consider holding BINV shares amid strong Q1 performance.
- Monitor upcoming earnings calls for sustainability of growth.
- Evaluate entry points if share price dips post-profit-taking.
- Review 2023 annual report to assess long-term trends.
- Diversify portfolio to mitigate sector-specific risks.
Positive Aspects
- Q1 2024 profit surge
- Revenue growth of over 250% YoY
- Significant EPS improvement
- Asset expansion by 33%
Negative Aspects
- 2023 consolidated net profit declined compared to 2022
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