Arafa Holding reports 392% profit rise

ArabFinance: Arafa Holding (AIVC) posted a 392% Year on Year increase in its consolidated net profit for the financial period ended January 31st, according to the company’s May 21st financial statements filed to the Egyptian Exchange.

Consolidated net profit reached $15,205,311 (EGP 240,724,556), compared to $3,084,802 (EGP 48,837,382) achieved a year earlier.

Moreover, the standalone net profit increased to $13,858,449 (EGP 219,401,562) ended January 31st, a 117% climb from $6,393,944 (EGP 101,226,428) posted a year earlier.

It's worth mentioning that the company's board of directors did not propose dividends for the financial period ending

Arafa Holding is an Egypt-based holding company engaged in Financial and Management Consulting, and Investment Activities. The company is organized into three business segment; the Retail Segment, the Apparel & Tailoring Segment and Textiles segment. It operates through managing and administrating its subsidiaries and affiliated companies.

At the press time, the exchange rate is $1 = EGP 15.83

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