CI CAPITAL HOLDING FOR FINANCIAL INVESTMENTS
CICH
Financial ResultsPositive News
CI Capital Soars: H1-24 Revenues Jump 61%, Profits Hit EGP 1.3B Amid Challenges
CI Capital reports a 61% revenue surge and EGP 1.3B profit in H1-24 despite market challenges, showcasing strong financial performance.
August 18, 2024 at 1:19:00 PMScore: 85
CI Capital Holding reported a stellar performance in the first half of 2024, with consolidated net profits surging to EGP 1.31 billion, up from EGP 532 million in H1-23. Total revenues skyrocketed by 61% year-on-year (YoY) to EGP 4.99 billion, compared to EGP 3.10 billion. Assets grew to EGP 29.87 billion from EGP 25.40 billion by end-2023. Standalone net profit after tax rose to EGP 483.93 million (EPS: EGP 0.44) from EGP 437.30 million (EPS: EGP 0.39). Q2-24 consolidated profits hit EGP 319.59 million (vs. EGP 202.16 million in Q2-23), with revenues climbing to EGP 2.12 billion from EGP 1.49 billion. However, non-consolidated Q2 net profits fell to EGP 27.71 million (EPS: EGP 0.02) from EGP 86.16 million (EPS: EGP 0.07). CEO Hesham Gohar credited 'prudent management' for navigating NBFS sector challenges, including a 'condensed fiscal quarter with public holidays.' Q1-24 saw a 194% YoY consolidated profit jump to EGP 939.46 million.
Recommended Actions
- Consider buying CI Capital stock for long-term growth
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Positive Aspects
- 61% YoY revenue growth in H1-24
- Consolidated profits tripled compared to H1-23
- Asset base expanded by 17.6% in six months
- Q1-24 consolidated profit surged 194% YoY
Negative Aspects
- Q2-24 non-consolidated net profits fell 68% YoY
- EPS dropped from EGP 0.07 to EGP 0.02 in Q2-24 standalone results
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