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CI Capital provides subsidiaries with loans worth EGP 600mn

Wednesday 01 August 2018 02:31 PM

CI Capital Holding’
CI Capital Holding’

By Ragab Ezz el-Din
CI Capital Holding’s Board of Directors approved yesterday the granting of loans to the subsidiaries with 600 million pounds maximum.

The company said in a statement sent to the Egyptian Stock Exchange that these loans will be financed from the company's own resources, to fund the group companies’ working capital.

Consolidated financial statements of CI Capital showed a 88% rise in profits in the first half of 2018 to EGP 183 million compared to EGP 97.32 million in the comparable period of 2017.

The company's revenues during the first half jumped to 1.07 billion pounds, compared to of 735 million pounds in the comparative period last year.