Cairo – Mubasher: Beltone Financial Holding turned profitable at EGP 85.77 million in the first nine months (9M) of 2023, against consolidated net losses after tax valued at EGP 139.88 million in 9M-22
Total operating revenues amounted to EGP 956.52 million in 9M-23, marking a 271% year-on-year (YoY) leap from EGP 257.66 million, according to the financial results.
The higher revenues were backed by strong operational performance across the non-banking financial institutions (NBFIs), complemented by the Investment Bank and Other Ventures.
Earnings per share (EPS) hit EGP 0.05 as of 30 September 2023, compared to a loss per share of EGP 0.31 a year earlier.
Beltone reported total assets standing at EGP 14.59 billion in 9M-23, up from EGP 3.37 billion as of 31 December 2022.
Standalone Business
The company shifted to standalone net profits after tax amounting to EGP 301.84 million during January-September 2023, compared to net losses worth EGP 55.49 million a year earlier.
Non-consolidated revenues hiked to EGP 383.12 million in 9M-23 from EGP 29.66 million in the year-ago period. Basic profit per share reached EGP 0.17, versus a loss per share valued at EGP 0.15.
Financials for Q3-23
During the third quarter (Q3) of 2023, the EGX-listed firm recorded consolidated net profits after tax valued at EGP 132.32 million, against net losses standing at EGP 90.66 million in July-September 2022.
The revenues enlarged to EGP 636.98 million in Q3-23 from EGP 75.55 million in Q3-22. Meanwhile, the EPS amounted to EGP 0.36 when compared with a loss per share of EGP 0.08.
In the first half (H1) of 2023, the consolidated net losses after tax of Beltone widened to EGP 145.89 million from EGP 105.58 million in H1-22.
