Cairo National for Investment and Securities’ consolidated net profits attributable to the parent company dropped 26.7% year on year (YoY) in the first quarter (Q1) of 2024 to EGP 634,249, versus EGP 865,854, as per a filing.

Total revenues fell to EGP 3.366 million in the three-month period ended March 31st from EGP 3.843 million in the year-ago period.

Moreover, the company registered standalone net losses after tax of EGP 579,569 in Q1 2024, compared to net profits of EGP 76.594 million in the same quarter the year before.

Meanwhile, total standalone operating revenues went down to EGP 486,669 from EGP 2.181 million.

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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