Cairo National for Investment and Securities turned to profitability during the first quarter (Q1) of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on May 17th.

The company reported consolidated net profits attributable to the parent company of EGP 865,854 in Q1 2023, compared to a net loss of EGP 2.083 million in Q1 2022.

Total consolidated operating revenue climbed to EGP 1.296 million in the three-month period ended March 31st from EGP 72,230 million in the year-ago period.

Moreover, the company registered a standalone net profit after tax of EGP 76,594 million in Q1 2023, compared to a net loss of EGP 2.096 million in the same quarter the year before.

Cairo National invests in the start-up business and provides securities exchange-related services. Its main purpose is to promote and underwrite securities, participate in the establishment of companies that issue securities, and portfolio management.

 

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