news

Sarwa Capital’s unit receives 1st consumer credit licence
26 - Sun - Apr - 2020
Sarwa Capital’s unit receives 1st consumer credit licence
Sarwa Capital Holding for Financial Investments announced that its subsidiary Contact Credit received the first consumer financing licence from the Financial Regulatory Authority (FRA) in line with the new Consumer Credit Act.The value of consumer financing provided by Contact, excluding mortgage financing, reached EG 20 billion…
Cairo Three A gets FRA's approval on MTO to acquire Egyptian Starch & Glucose
26 - Sun - Apr - 2020
Cairo Three A gets FRA's approval on MTO to acquire Egyptian Starch & Glucose
The Egyptian Financial Regulatory Authority (FRA) approved a request to publish the mandatory tender offer (MTO) submitted by Cairo Three A for International Industries to acquire the Egyptian Starch and Glucose.The MTO includes the purchase of up to 50.077 million shares, representing 100% of the Egyptian Starch and…
United Arab Stevedoring incurs loss in 9M, secures debt restructuring deal
26 - Sun - Apr - 2020
United Arab Stevedoring incurs loss in 9M, secures debt restructuring deal
The unaudited financial results of United Arab Stevedoring showed a 19.7% year-on-year (YoY) rise in its net losses during the first nine months of fiscal year 2019/2020, dragged by lower revenues.The company’s net losses widened to EGP 22.65 million in the nine-month period ended 31 March, compared to EGP 18.92 million…
Misr Chemical Industries’ profit slides 62% in 9M initial results
26 - Sun - Apr - 2020
Misr Chemical Industries’ profit slides 62% in 9M initial results
The unaudited financial results of Misr Chemical Industries reported a 62% year-on-year (YoY) profit decline during the first nine months of fiscal year 2019/2020.The company’s net profits plunged to EGP 28.46 million in the nine-month period ended 31 March, compared to EGP 75.5 million in the corresponding period a year earlier, according…
Shorouk Printing’s profit climbs 71% in 2019 unaudited financials
26 - Sun - Apr - 2020
Shorouk Printing’s profit climbs 71% in 2019 unaudited financials
The unaudited consolidated financial results of Modern Shorouk Printing and Packaging showed a 71.6% year-on-year (YoY) growth in its net profits during 2019.The company achieved net profits of EGP 41.33 million last year, up from EGP 24.08 million in 2018, according to bourse disclosure on Sunday.In the meantime, sales went up to…