Egypt: B Investments posts higher consolidated profits at $43.3mln in 2022

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B Investments Holding recorded consolidated net profits after tax worth EGP 1.33 billion in 2022, versus EGP 105.30 million in 2021, including minority shreholders' rights.

The revenues amounted to EGP 1.50 billion last year, compared to EGP 162.67 million in the January-December 2021 period, according to the income statements.

Basic and diluted earnings per share (EPS) hiked to EGP 5.25 in 2022 from EGP 0.64 a year earlier.

Meanwhile, the total assets hit EGP 4.30 billion as of 31 December 2022, an annual surge from EGP 2.11 billion.

As for the standalone business, the EGX-listed firm generated non-consolidated net profits after tax valued at EGP 860.89 million last year, higher than EGP 123.43 million in January-December 2021.

Last month, B Investments obtained the approval of the shareholders to pay EGP 640.09 million as cash dividends for 2022.

In the first nine months (9M) of 2022, the company’s consolidated net profits after tax jumped to EGP 998.92 million from EGP 72.92 million in 9M-21, including non-controlling interests.