![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
EFG Holding | LSE:EFGD | London | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.65 | 0 | 01:00:00 |
TIDMEFGD
RNS Number : 3838I
EFG-Hermes Holdings SAE
08 August 2019
EFG HERMES REPORTS SECOND QUARTER 2019
GROUP EARNINGS OF EGP304 MILLION; ON OPERATING REVENUE OF EGP1.1 BILLION
Cairo, August 8(th) , 2019 - EFG Hermes reports second quarter 2019, with Group Earnings of EGP304 million on operating revenues of EGP1.1 billion. The Group Total assets stood at EGP38.6 billion at the end of 2Q19.
Key Highlights
2Q2019
-- Another buoyant quarter for EFG Hermes, with the Group growing its bottom line by roughly 50% for the second quarter and the first half of the year. Group net profits crossed the three hundred million pounds for another quarter, reporting a net profit after tax and minority interest of EGP304 million in 2Q19, up 49% Y-o-Y, driven by higher net profit reported by the Investment Bank and the NBFIs;
-- Group revenues increased 13% Y-o-Y to reach EGP1.1 billion in 2Q19, driven by strong revenue growth delivered by the NBFIs platform, which contribution to the Group's revenues reached 31% in 2Q19;
-- Fees and commissions, which represented 75% of the Group revenues in 2Q19, rose 15% Y-o-Y to EGP784 million, underpinned by Tanmeyah's robust revenue growth;
-- The NBFIs platform continues to deliver strong results, with its revenues climbing 73% Y-o-Y to EGP322 million in 2Q19. Tanmeyah was the main contributor to that growth with its revenues increasing 83% Y-o-Y to EGP275 million in 2Q19;
-- Sell-side revenues inched up 4% Y-o-Y to EGP364 million in 2Q19, on higher Brokerage revenues and despite lower Investment Banking revenues;
-- The buy-side revenues declined 31% Y-o-Y to EGP98 million in 2Q19, despite Private Equity's revenues climbing on higher management fees, as Asset Management revenues declined on lower incentive fees;
-- Capital markets & treasury operations revenue contribution to the Group's total revenues came at 25% in 2Q19, with its revenues increasing 6% Y-o-Y to EGP267 million. Revenues were supported by net interest earned;
-- The increase in the Group operating expenses was confined to a single digit, increasing 9% Y-o-Y to EGP672 million in 2Q19, on higher employee expenses and other operating expenses related to Tanmeyah's headcount expansion, the increase in its portfolio and higher number of branches as compared to a year earlier. Moreover, Employee expenses to operating revenues came at 45% in 2Q19;
-- The Group's revenue growth surpassing the increase in expenses, for a second quarter, thus reporting a net operating profit of EGP379 million, up 21% Y-o-Y in 2Q19 and a net operating profit margin of 36%
For full report and financial statements, please click on the links on top of the page.
http://www.rns-pdf.londonstockexchange.com/rns/3838I_1-2019-8-8.pdf
http://www.rns-pdf.londonstockexchange.com/rns/3838I_2-2019-8-8.pdf
For further information:
Investor Relations Contacts
Email: investor-relations@efg-hermes.com
Group Head of IR, Budgeting and Reporting
Hanzada Nessim
Email: hnessim@efg-hermes.com
Tel: +20 (0)2 35356502
www.efg-hermes.com
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
IR SSMSWAFUSEDA
(END) Dow Jones Newswires
August 08, 2019 03:40 ET (07:40 GMT)
1 Year EFG Chart |
1 Month EFG Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions