Arab Finance: Atlas for Investment and Food Industries’ (AIFI) consolidated net profits attributable to the parent company dropped 31.49% year on year (YoY) during the first half (H1) of 2023, according to statements filed to the Egyptian Exchange (EGX) on August 13^th.

The company logged a consolidated net profit attributable to the parent company of EGP 1.048 million in H1 2023, compared to EGP 1.530 million in H1 2022.

Revenues surged 53.92% YoY to EGP 19.298 million in the six-month period ended June 30th, from EGP 12.537 million in the same period a year earlier.

Atlas’ standalone net profit after tax declined 93.28% YoY of EGP 98,804 during the January-June period of this year, compared to EGP 1.469 million in the first six months of 2022.

Atlas, established in 1997 and listed in 2012, has four subsidiaries focusing on real estate, farm development, and agricultural processing.

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