Arabiyya lel Istithmaraat prfoits dip to L.E 32 m in six months
Arabfinance
reported its consolidated financial results posting a net profit of L.E 32,864,698 (before taxes) in the period from 01/01/2010 till 30/06/2010, compared to a net profit of L.E 72,358,094 (before taxes) in the same period a year ago.
20 Jul 2010
EGX opens OPR market for Arabiyya Lel Istithmaraat to complete treasury stocks buy back
EGX
With regard to Arabiyya Lel Istithmaraat announcement of buying back 4.9 % of its issued capital as treasury stocks, EGX announced that OPR market will be opened starting today’s session 20/07/2010 till 05/08/2010 so the company can complete the purchase.
The release added that, stock price will be LE 1.10/share.
30 Jun 2010
Arabiyya lel istithmaraat BOD approves buying back 46.5 m treasury stocks
Arab Finance
Arabiyya lel istithmaraat sent a release to EGX stating that company’s BOD approved in its meeting which was held on Tuesday 29/06/2010 to buy back 46.5 million treasury stocks, representing about 4.9 % of company’s issued capital through self finance.
The release added that, such step came in order to keep company’s stock price stability and supports it in the market in unjustified declines, adding that such stocks will be used in acquisitions over companies in the framework of company’s investment plans.
06 Jun 2010
Today: Arabiyya Lel Istithmaraat debuts on EGX official market
Mubasher
The management of The Egyptian Exchange (EGX) has given the go-ahead for listing Arabiyya Lel Istithmaraat on official securities schedule to start trading as of today Sunday, June 6th on the official market. This step followed the company’s adjustment of legal status and conversion into a holding entity.
Based on the decision of Securities Committee, the stock will trade regardless of restricted price limits and halting mechanisms on the first day only.
Two weeks ago, the firm had submitted a request to list its shares on the official market, after completing required procedures.
Approving this request came in light of enhancing the role played by EGX and supervisory entities in protecting investor rights.
The stock is expected to boost the market liquidity. It would also protect the company’s 25.072 thousand investors as well as nearly 20.05 thousand out of 50 thousand OTC traders.
The bourse management cooperates with all firms that seek to list on the official market provided the protection of investors, stated EGX Chairman, Maged Shawky.
Arab Investment was listed on the official market till February 2005. In 2004, it had recorded a trading volume nearing 115 million shares and a turnover of more than EGP 168.9 million.
The company operates with issued capital of EGP 943.8 million, divided into 943.8 million shares; 534623725 (cash shares) and 409176999 (shares in-kind) at EGP 1 par value each.
03 Jun 2010
EGX approves Arab Investment listing on official market, debut on (as of) Sunday
Mubasher
The management of The Egyptian Exchange (EGX) has given the go-ahead for listing Arab Investment and Development on official securities schedule to start trading as of today Sunday, June 6th on the official market. This step followed the company’s adjustment of legal status and conversion into a holding entity.
Last week, the firm submitted a request to list on the official market, after completing required procedures.
Approving this request came in light of enhancing the role played by EGX and supervisory entities in protecting investor rights. It also reflecteds the mutual cooperation between the company and securities committee to finalize the measures necessary for status adjustment.
The stock is expected to boost the market liquidity. It would also protect the company’s 25.072 thousand investors as well as nearly 20.05 thousand out of 50 thousand OTC traders.
The bourse management cooperates with all firms that seek to list on the official market provided the protection of investors, stated EGX Chairman, Maged Shawky.
Arab Investment was listed on the official market till February 2005. In 2004, it had recorded a trading volume nearing 115 million shares and a turnover of EGP 168.9 million.
The company operates with issued capital of EGP 943.8 million, divided into 943.8 million shares; 534623725 (cash shares) and 409176999 (shares in-kind) at EGP 1 par value each.
02 Jun 2010
EGX approves re-listing Arabiyya Lel istithmaraat in the main market
EGX
Egyptian Stock Exchange approved listing Arabiyya Lel Istithmaraat - (AICR) to the main market (stocks), so it will be listed on next Sunday 06/06/2010.
It is worth noting that, the company submitted a request last week in order to be listed in the main market, according to EGX listing rules
24 Mar 2010
Arabiyya Lel istithmaraat 2009 profits hit LE 97 m
Arab Finance
Arabiyya Lel istithmaraat reported consolidated financial results for the fiscal year ended on 31/12/2009.
Company’s consolidated financial results showed a net profit of LE 97.608 million, compared to a net profit of LE 26.934 million in 2008.
The company added that, earning per sahre (EPS) amounts to LE 0.10, compared to LE 0.13 in 2008.
Moreover, it pointed out that 2009 revenues hit LE 463.2 million, compared to LE 271.6 million in 2008.
25 Oct 2009
Arabiyya Lel istithmaraat acquires 50% stake in Peugeot Egypt
Alborsa newspaper
Arabiyya Lel istithmaraat has acquired 50% stake over Centre of Development & Commerce Company- Peugeot Egypt.
According to company CEO, Mohamed Metwally the company will have administration right and said that acquisition will be made through Peugeot Egypt capital increase by 100% to be allocated for Arab Company for Investment.
“Next Wednesday will witness deal details and company future expansion plan” he added, asserting company adopting for an ambitious plan to increase market share of - Peugeot Egypt through injecting new investments in maintenance centres and financing sales and exporting.
Metwally reported that this step came as a part of company plans to benefit from investment opportunities available in Peugeot Egypt, which owns free zone in Alexandria, Limousine Company for car renting and outdoor exporting line.
It is notable that, Peugeot Egypt capital amounted to L.E 100 million to be increased to LE 200 million.
Furthermore, Arab Company takeover over 50% of Peugeot Egypt supports the plan set to transform it into holding company and also its operational activity and consequently its profitability to meet minimum requirements to be relisted.
Metwally explained that his company is aiming at boosting activities of projects financing in three sectors which are infrastructure, real estate and industry& services.
15 Jul 2009
Arabiyya Lel istithmaraat earnings surge 489% in H1-09 on operating revenue hike
Al-Alam Al-Youm
Arabiyya Lel istithmaraat (formerly AIC) posted its H1-09 financial results, showing that net earnings skyrocketed 489%, or EGP 47.777 million, to EGP 57.544 million, compared to EGP 9.767 million in prior-year period.
This is attributed to operating revenue that soared 93.7%, or approx. EGP 107 million; reaching EGP 221.058 million, compared to EGP 114.114 million in H1-08. Moreover, operating expenses rose from EGP 99.900 million to EGP 180.230 million.
Accordingly, gross profit spiked from EGP 14.214 million to EGP 40.828 million.
Growth in non-operating revenue also boosted profit, reaching EGP 48.862 million compared to EGP 9.777 million. Non-operating revenue includes EGP 43.704 million other revenues; EGP 4.835 million from treasury bills and EGP 322.5 thousand from investments.
Consolidated income statement reflected a 16.4% increase in total expenses from EGP 14.719 million to EGP 17.139 million. It includes EGP 13.303 million general and administrative expenses; EGP 1.955 million expenses and finance interests; EGP 1.250 million asset depreciation; EGP 263 thousand administrative amortizations and EGP 366 goodwill amortization.
Financial results were impacted by lower capital gains from EGP 2.807 million to EGP 261.2 thousand. Moreover, the EGP 873 thousand profit generated from foreign currency translation turned into losses nearing EGP 454.6 thousand.
Minority rights amounted to EGP 14.813 million.
It is noteworthy that FY08 consolidated profit after tax and minority rights leapt 63.8% to EGP 26.934 million, compared to EGP 16.435 million a year earlier.
15 Jul 2009
Arabiyya Lel istithmaraat's 2009 half year net profits reached LE 57.5
Alalam Alyoum newspaper
Arab Finance: Arabiyya Lel istithmaraat's (AICR) consolidated half year financial results revealed net profits of LE 57.544 million for the first half of 2009, compared to net profits of LE 9.767 million in the comparable period of 2008.
On the other hand, the company achieved net profits of LE 25.3 million in 2009 Q1, compared to LE 27 million in 2008.
It is worth noting that, the company’s consolidated full year financial results revealed net profits of LE 26.934 million in 2008, compared to LE 16.435 million in 2007.
Mohamed Metwally, CEO of the company, stated that operational revenues reached LE 221 million, operational costs reached LE 180 million and operational profits reached LE 40.8 million in the first half of 2009.
He added that, general and administrative costs reached LE 17 million, other revenues from investments and treasury bills reached LE 48 million; pointing out that, after discounting minority rights; net profits will reach LE 57.5 million.
