Egypt Kuwait Holding (EKH) said Sunday its revenues topped USD 801 million with net profits amounting to USD 179 million in 2023.

The company managed to maintain a record high profitability margin of 45 percent as its aggregate profits amounted to USD 358 million last year, according to a statement from the company.

The Q4-2023 revenues went up by six percent to USD 213 million when compared with the figures of the previous quarter.

The aggregate operating profits also grew by 45 percent to USD 359 million with the profitability margin surging by 27 percent.

The figures show that the EKH profits overshot the record high average of the period ahead of the Russia-Ukraine war, the statement noted.

Hailing the financial results, EKH Board Chairman Lu'ai Al-Kharafi said, "These robust results affirmed the Group's ability to overcome the global challenges." "The Group's strategic investments exceeded USD 250 million in 2023 with a view to enhancing a package of services and products, and seizing the promising investment opportunities in emerging markets," Al-Kharafi pointed out.

The strategy of the Group aims to achieve integration between the operating processes and diversification of income through an investment portfolio focusing on foreign currency flows, he added.

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