Earnings Report /
Egypt

CI Capital: Revenue segments balance out one another and cushion annual pressure in earnings

  • Revenue segments offered a mixed bag that balanced out one another to look overall reasonable

  • The company continued to book precautionary provisions of c.EGP8 million which weighed down on bottom line.

  • OPEX remained stable as balance sheet deleveraging pays off

Al Ahly Pharos Securities Brokerage
13 August 2020

Taaleem and treasury operations support IB platform; NBFIs supported by controlled leasing costs

Group attributable net profit for 2Q20 recorded EGP90 million (+2% q/q, -19% y/y). The slight sequential rise was mainly attributed to lower effective tax rate of 22% versus 26% in 1Q20. Net profit before income tax declined sequentially and annually by 3% and 9%, respectively.