Latest in Tag: Profit Highlight

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Latest in Tag: Profit


Africa Finance Corporation achieves $100.3m net profit in 2017

The Africa Finance Corporation (AFC), one of Africa’s leading infrastructure multilateral development finance institutions, announced it achieved $100.3m net profits in 2017, according to the financial year results published on Sunday.  The results indicate that the AFC’s total comprehensive income registered at $109.2m in 2017, while their total assets registered at $4.2bn, achieving a 21% …

Daily News Egypt

Recently opened factory will increase Q4 profits: managing director of MBEN

Ahmed Bahaa, managing director of MB for Engineering and Contracting (MBEN), and member of the Egyptian Exchange’s board, revealed that setting up the company’s recently opened factory in Sixth of October city is expected to lead to a hike in profits throughout the fourth quarter (Q4) of 2017. “The company’s financials in terms of revenues …

Noha Abd ElRahman

CIB profits EGP5.7bn in 9 months 

Commercial International Bank (CIB) posted a record profit of EGP 2.1bn in the third quarter (Q3) of 2017, up 23% year over year (YOY), according to the bank. Its revenues rose by 45% during Q3 of 2017 compared to the same period last year, reaching about EGP 4.2bn. During the first nine months of this …

Daily News Egypt

Raya Telecom profits jump by 311.4% over 6 months

Raya Telecommunications Services (RTA), one of the companies owned by Raya Systems, saw its profits jump by 311.4% during the first half of 2017, compared to the same period last year. The company said in a report to the Egyptian Exchange (EGX) on Monday that the company’s profits amounted to EGP 81.4m during the first …

Daily News Egypt

Lufthansa profit flies high on lower costs

The German flagship carrier has beaten analysts’ expectations for 2016 results, reporting a record net profit despite falling revenues, which shows that the airlines’ drive to save costs is bearing fruit.Europe’s biggest airline group by revenues unveiled a net profit of 1.78 billion euros ($1.9 billion) for last year – a 4.6 percent increase on …

Deutsche Welle

BP returns to profitability in 2016

British energy giant BP has announced it’s entered positive territory again, logging a slight bottom-line profit for the whole of 2016 and recovering from a huge net loss in the previous year.BP posted a slight net profit for 2016, the company announced Tuesday. Profit after tax stood at $115 million (108 million euros) last year, …

Deutsche Welle

Dell, EMC in biggest tech-sector takeover?

Media reports have said US PC maker Dell is about to take over data storage giant EMC. The merger would mean the largest transaction ever in the tech sector, with EMC market capitalization standing at over $50 billion. Bloomberg and Reuters reported Dell could announce a deal to take over EMC as early as Monday. …

Deutsche Welle