Arab Finance: Gadwa for Industrial Development (GDWA) reported a 461.71% year-on-year (YoY) jump in consolidated profits attributable to the holding company during the first half (H1) of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on August 23^rd.

The company’s consolidated profits excluding minority interest rose to EGP 402.533 million in H1 2023 from EGP 71.661 million in H1 2022.

Consolidated revenues jumped 50.41% YoY to EGP 5.066 billion in H1 2023 from EGP 3.368 billion.

As for standalone financials, Gadwa posted a net profit after tax of EGP 14.220 million in H1 2023, versus a net loss of EGP 8.527 million in the same period a year earlier.

Established in 2021, Gadwa is a Cairo-based company that operates within investments in the industrial sector.

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