
EGYSTONE's net losses plummet by 15% YoY in 2024
Loss per share hit EGP 0.109 last year, compared to EGP 0.129 at the end of December 2023.
The EGX-listed firm generated total revenues worth EGP 2.324 million in 2024, down year-on-year (YoY) from EGP 2.703 million.
EGYSTONE is a subsidiary of Salama Group which was established over 40 years ago. The company operates within the materials sector, focusing on construction materials, in addition to the supply and installation of all types of granite and general contracting.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Zawya
9 hours ago
- Zawya
Egypt: Beltone Mortgage closes 1st securitization issuance at $27mln
Arab Finance: Beltone Mortgage has successfully concluded its first securitized bond issuance at a total value of EGP 1.32 billion, according to a press release. Beltone Investment Banking acted as financial advisor, lead arranger, and bookrunner. Executed under Beltone Securitization's second program, the offering attracted strong investor demand with 2.3x oversubscription. This highlights the market confidence in the quality of Beltone Mortgage's portfolio and the strength of its financial position. The bond is structured into four auctions, with tranche A valued at EGP 551 million. It holds a tenor of 24 months, with a 'AA+' rating. Tranche B stands at EGP328 million, with a 36-month tenor and a rating of 'AA'. Rated 'A-', tranche C amounts to EGP 238 million over 48 months, while tranche D stands at EGP 203 million, carrying a 60-month tenor and a 'A-' rating. Hassan Abdelnabi, CEO of Beltone Mortgage, commented: 'This first securitization issuance marks a strategic turning point for Beltone Mortgage. It reflects the strength and quality of our mortgage finance portfolio and reinforces our ability to structure innovative funding solutions that support our sustainable growth ambitions.' On his part, Sherif Hassan, Group Treasurer and Managing Director of Debt Capital Markets at Beltone, said: 'This issuance represents another step in our expansion within Egypt's structured finance space.' The transaction was supported by key institutions, including Matouk Bassiouny & Hennawy, which acted as legal advisor, while KPMG served as the External Auditor. Abu Dhabi Commercial Bank (ADCB) served as both custodian and backup servicer, and Banque Du Caire acted as the placement agent. The issuance was underwritten by the National Bank of Egypt (NBE), Banque Du Caire, Al Baraka Bank, and Ahli Bank of Kuwait. Participating subscribers included ADCB, SAIB, the Industrial Development Bank (IDBE), and Housing and Development Bank. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (


Zawya
12 hours ago
- Zawya
Egypt: EGX closes Tuesday's trading session in green zone
Arab Finance: The Egyptian Exchange (EGX) closed Tuesday's trading session in the green zone, with the EGX30 index rising by 0.77% to 36,100.07 points. The Sharia-compliant index, EGX33 Shariah, increased by 0.13% to 3,632.61 points. Likewise, the EGX35-LV climbed by 0.08% to 3,853.09 points. Both the EGX70 index and EGX100 index ended the trading session higher by 0.38% at 10,808.61 points and by 0.40% at 14,489.65, respectively. A total of 1.477 billion shares were exchanged at a value of EGP 5.387 billion over 120,464 transactions, while the market cap reached EGP 2.516 trillion. The Egyptian investors controlled 87.07% of the trading transactions, while the foreign and Arab traders made up 9.64% and 3.29%, respectively. Retail investors equaled 73.92% of the total trading, while the institutions represented 26.07%. Foreign and Arab investors were sellers with EGP 377.54 million and EGP 68.89 million, respectively. Meanwhile, the Egyptian traders were buyers with EGP 446.445 million. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (


Zawya
12 hours ago
- Zawya
Egypt: Contact Financial's consolidated profits hit $2.5mln in H1 2025
Arab Finance: The consolidated net profits after tax attributable to the owners of Contact Financial Holding dropped by 27% to EGP 122.565 million in the first half (H1) of 2025 from EGP 167.679 million in H1 2024, according to the financial results. Earnings per share (EPS) declined to EGP 0.10 at the end of June 2025 from EGP 0.14 a year earlier, while the net interest income hiked to EGP 553.175 million from EGP 419.924 million. As for the standalone business, Contact incurred net losses after tax valued at EGP 20.597 million in the first six months of 2025, an annual increase from EGP 1.153 million. Non-consolidated total operating revenues shrank to EGP 25.776 million from EGP 30.792 million. The company's management commented: 'The group delivered a strong operating performance in 1H-2025 as we continued to demonstrate the strength of our business model and the appeal of our value proposition.' 'Supported by an improving operating environment, our financing division maintained its momentum and achieved solid growth in new lending extended during the period,' it added. The group attributed the strong performance to the consumer finance segment, which is the main driver behind new lending growth, with a 46% YoY expansion in new lending fueled by increased customer acquisition during the period. The commented highlighted: 'Similarly, new financing extended at the trucks, mortgage, working capital segments grew by 2%, 27%, and 10%, respectively, y-o-y on the back of an improved economic environment underpinned by lower interest rates and greater price stability.' 'Meanwhile, new lending at our Auto segment remained largely flat year-on-year as customers continued to delay purchasing decisions in anticipation of further interest rate cuts later in the year,' it noted. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (