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Arabian Business Egypt: Finance and Investment Group Arzan Finance revealed a change in profitability in the second quarter of this year, supported by three factors.
In a statement released on Sunday, the company said it made a profit of 1.25 million KD ($ 4.11 million) on June 30, compared to 132,233,000 dinars ($ 434.82 thousand) for the same period from last year. 2018.
Arzan made a profit of 3.54 million dinars for the first six months of this year, up 440% compared to the previous semester of 655.11 dinars.
The increase in the fair value of financial badets, as well as the increase in customer contract revenues and the increased share of badociates, resulted in higher mid-term earnings.
Total operating income for the first half of 2019 amounted to 8.04 million KD, compared to 3.99 million BD in the first half of the previous year, an increase of of 101%.
Arzan's profits rose 190.5 percent in the first quarter to 2.29 million dinars, compared to a profit of 787,000 dinars in the same period last year.
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