Arab Moltaqa Investments’, Egypt consolidated profits rise 62.84% YoY in 2023

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Arab Moltaqa Investments Co reported a 62.84% year-on-year climb in consolidated net profits after tax and attributable to the parent company for 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on February 27th.

Consolidated net profits hit EGP 160.749 million from January through December, compared to EGP 98.715 million in the corresponding period of last year.

Operating revenues rose to EGP 1.198 billion in the 12 months to December 31st of last year, up from EGP 675.336 million in 2022.

Moreover, the company’s standalone net profits after tax stood at EGP 78.988 million in 2023, down from 107.038 million in the same year-ago period.

AMIC is an Egypt-based investment company that invests in a diversified range of economic sectors covering a broad spectrum, including industrial and agricultural investments, land reclamation and cultivation, livestock development, fisheries, real estate investments, pharmaceuticals, healthcare, and tourism.