The shares of the Delta Insurance Company listed on the Egypt Stock Exchange rose by 19.96% during the trading of the session today, to circulate at the price of 14.23 pounds per share, after the board of directors decided to distribute cash profits.
The trading on the Delta Insurance share at that time came through 29 shares with a trading value of 495.03 pounds.
The share of the Delta Insurance Company witnessed a remarkable increase after the company’s board of directors’s decision to distribute cash dividends to shareholders over the past fiscal year.
The company announced that the proposal includes the distribution of 200 million pounds, with a cash coupon of 2 pounds per share, noting that this decision is subject to the approval of the company’s general assembly.
The Delta Insurance Company achieved profits of 526.42 million pounds during the period from July to December 2024, compared to profits of 323.13 million pounds in the same period in the year 2023, taking into account the minority rights.
The company’s revenues increased during the second half of last year to reach 680.74 million pounds, compared to 448.62 million pounds in the comparative half of the previous year.
On the level of independent business, the company’s profits during the second half of the year increased to 310.65 million pounds, compared to 123.19 million pounds in the same period last year.
The Delta Insurance Company decided to amend the fiscal year of the company based on the decision of the Financial Supervision Authority, as the new fiscal year will start from January 1 to December of each year, starting in 2025.
The company recorded a net profit of 259.47 million pounds during the period from July to the end of September 2024, compared to 175.41 million pounds in the same period in the last fiscal year.
The company’s revenues also increased during the first three months of this year to 355.25 million pounds, compared to 233.4 million pounds in the same period in the last fiscal year.
With regard to the unacceptable financial statements, the profits of the independent company increased to 161.77 million pounds during the period from January to the end of September 2024, compared to 50.49 million pounds in the same period from 2023.
