Egyptian Kuwaiti Holding records $109.29mln profit in H1

Consolidated revenue rose

  
A trader works at the Egyptian stock market in Cairo .

A trader works at the Egyptian stock market in Cairo .

REUTERS/Mohamed Abd El Ghany

ArabFinance: Egyptian Kuwaiti Holding (EKHO) reported a consolidated net profit of $109.29 million in the first half (H1) of 2021, up from $80.24 million in the year-ago period, according to the company’s consolidated financial statement.

Consolidated revenue rose to $349.30 million in H1 2021 from $290.28 million in the same period of 2020.

As per the standalone financial statement, the company posted a standalone profit of $29.50 million in the six-month period ended June 30th, compared to $3.47 million profits in H1 2020.

Egyptian Kuwaiti Holding is an Egypt-based investment company with a diversified portfolio of investments in sectors, including fertilizers and petrochemicals, energy, insurance, manufacturing, information technology, transport, and infrastructure.

The company has investments in 20 companies across five countries, including Egypt and Kuwait.

At the press time, the conversion rate is $1 = EGP 15.70

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