Saturday 22 Feb
Odin Financial Investments saw its profits surge by 157% year-on-year in the second half of 2024, according to its consolidated financial statements. The company reported a net profit of EGP42.84 million for the period from July to December 2024, up from EGP16.66 million in the same period of 2023. Total revenues also increased significantly, reaching EGP85.43 million compared to EGP46.15 million in the second half of the previous year.
Odin Investments also saw strong growth in its independent profits. Unconsolidated statements show profits rose to EGP19.51 million in the second half of 2024, compared to EGP7.91 million in the same period of 2023.
Odin Financial Investments' Securities Listing Committee
approved an amendment to the company's financial year, which will now run from
January 1st to the end of December each year. To accommodate this change,
financial statements will be prepared for the period between the end of the
previous financial year and the beginning of the new one.
Odin Investments recorded a net profit of EGP28.05 million for the period from the beginning of July to the end of September 2024, compared to EGP14.17 million during the same period last year (taking into account minority rights). The company's revenues for the third quarter of 2024 increased to EGP42.57 million, up from EGP21.97 million in the corresponding period of 2023.
