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Rana Mamdouh
The consolidated financial statements of Tharwa Capital Holding for the first half of this year show a 23.7% increase in net income compared to the corresponding period.
The company said in a statement today that it achieved a net profit of 192.921 million pounds in the six months ended June 2019, compared to 155.962 million pounds in the same period, taking into account minority rights.
While revenues from sales of goods and services during the same period reached 1,035,338 billion pounds against 1,085,430 billion pounds over the same period.
Tharwa Capital's total profit in the first six months of this year was 124.517 million pounds, compared with 114.985 million pounds in the corresponding period.
The basic earnings per share for the same period was 0.25 EGP, compared with 0.24 EGP for the comparable period.
At the level of the independent activities, the financial statements of Tharwa Capital indicated that the net profit for the first half of this year had increased to £ 74.040 million, compared to £ 20.197 million for the corresponding period.
Income from operating activities during the same period reached LE 77.639 million, compared to UA 20.832 million for the same period.
In a separate announcement, Tharwa Capital announced the growth of its total funding portfolio to reach EGP 6.3 billion in the first half of 2019, an increase of 11 percent over the corresponding period.
In a related context, the Company announced that the Board of Directors, meeting on August 4, 2019, approved the increase of the maximum amount of free shares and bonus shares issued by the issue of bonus shares financed by the profits. listed in the financial statements as at March 31, 2019 in order to maintain the share of the system in equities. Ownership structure after adoption of previous board decisions on dividends.
According to the statement, this decision is presented to the Extraordinary General Meeting to be held on September 8, 2019 for voting.
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