CI CAPITAL HOLDING FOR FINANCIAL INVESTMENTS
CICH
Cash DividendsPositive News
CI Capital Soars Past EGP 1 Billion Profit Milestone in 2023
CI Capital reports record-breaking profits and revenue growth in 2023, signaling strong financial performance.
March 11, 2024 at 11:53:00 AMScore: 90
CI Capital Holding for Financial Investments achieved a landmark consolidated net profit of EGP 1.07 billion in 2023, marking a 23.6% increase from EGP 865.36 million in 2022. The company’s consolidated operating revenues skyrocketed to EGP 5.85 billion, up from EGP 3.26 billion the previous year. Standalone net profit surged to EGP 370.92 million in 2023, a dramatic rise from EGP 149.43 million in 2022, while standalone operating revenues jumped to EGP 14.27 million from EGP 5.94 million. Earnings per share (EPS) climbed to EGP 0.330, up from EGP 0.134. Despite strong performance, the board recommended no dividends for 2023. In the first nine months of 2023, consolidated net profit reached EGP 771.22 million, up from EGP 520.01 million in the same period of 2022.
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Positive Aspects
- 23.6% growth in consolidated net profit
- 185% surge in consolidated operating revenues
- EPS increase of 146%
- Strong 9M 2023 performance
Negative Aspects
- No dividends distributed for 2023 despite strong earnings
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