Egypt: EKH’s consolidated profits drop 44% YoY in H1

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Egyptian Kuwaiti Holding (EKH) has reported a 44% year-on-year (YoY) decline in consolidated profits excluding minority interest during the first half (H1) of 2023, registering $120.893 million, compared to $215.885 million, according to financial statements filed to the Egyptian Exchange (EGX) on August 14th.

Revenue dropped to $365.420 million in H1 2023 from $549.109 million in the same half a year earlier.

The company’s standalone net profit after tax fell to $91,920 during the January-June period of this year from $5.727 million during the first six months of 2022.

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.