The Clap
B Investments’ (BINV) revenues dropped by 40% to reach EGP 60 million, while profits also dropped by 17% to reach EGP 60 million YoY in H1 2022.
How Come?
B Investments earned EGP 25 million from currency spreads, in addition to income from its normal operations.
The Deets
The company justified the decrease in revenues because of removing Giza Systems’ revenues from the record, after it sold a 44.7% stake in the company.
In addition to that, the capital increase of MNHD and Basata and MNHD not paying dividends in H1 2022 played a role as well.
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