Cmar posts 22% profit decline

Updated 8/13/2020 6:33:00 PM

ArabFinance: Egyptian Arabian Securities Brokerage EAC (Cmar) (EASB)  reported a 22% Year on Year decline in its net profit in the first half (H1) of 2020, according to the company’s August 13th financial statements filed to the Egyptian Exchange.

Net profit stood at EGP 2,868,082 in H1 of 2020, compared to EGP 3,669,353 achieved in H1 2019.

In April, the shareholders of the company agreed on distributing 15% of the capital as cash dividends for 2019.

The company will pay EGP 1.5 per share dividends for FY 2019. This will have a total value of EGP 6 million to be distributed to the shareholders.

Cmar, formerly known Egyptian American Company for Securities Brokerage, is an Egypt-based public shareholding company engaged in the provision of investment services. The ؤompany operates a range of investment activities that includes sale and purchase of securities, mediation in the purchase and sale of securities to investors in the Egyptian capital market and providing financial advice, e-trading, establishment and ownership transfer, provision of training sessions, and financial advisory services.