Latest in Tag: Profit Highlight

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Latest in Tag: Profit

HSBC operating profit up, net income falls

Europe’s biggest bank, HSBC, has reported a drop in bottom-line earnings for the second quarter, but pointed to rising operating profit in the first half of 2015. The lender is in the midst of deep restructuring. HSBC announced Monday that its net profit fell 3.8 percent in the three months to June. In the first …

Deutsche Welle

Correction: SODIC registers EGP 477m net loss in 2013

The Daily News Egypt reported yesterday that real estate company Sixth of October Development and Investment (SODIC) reported a net profit of 229m, however, 2013 actually ended with a net loss of EGP 447m. “The company actually made a net loss. This [229m net profit] would have been the figures if not for the take-offs,” …

Sara Aggour

Bahrain’s Investcorp eyes extended growth after profit leap

Reuters – Bahrain-based investment company Investcorp expects 15-20% annual growth over the next five years, its chief financial officer said on Sunday after reporting a 53% increase in first-half net profit. Investcorp, which famously took luxury brands Gucci and Tiffany & Co public in the 1990s, made a net profit of $60.1m in the six …

Daily News Egypt

CBE reports EGP 11.3billion balance of payment deficit

The Central Bank of Egypt (CBE) announced Monday that Egypt’s balance of payment totalled USD eight billion during the 2011/2012 fiscal year, compared to a surplus of $571.2 million in the previous fiscal year. The decline was attributed to reduced tourism profits and the current political atmosphere in Egypt and the region. CBE reported that …

Islam Serour