Wed 06/Aug/2025 – 11:45 AM
The Financial Supervisory Authority, headed by Dr. Mohamed Farid, approved the publication of the report of the EFG Holding Group, regarding the company’s source reduction from 7.29 billion pounds to 7.17 billion pounds, with a reduction of 118.56 million pounds.
Financial oversight stated in a statement to the stock exchange, that the EFG disclosure report includes the invitation of the extraordinary general assembly to consider reducing the company’s source capital from 7.29 billion pounds to 7.17 billion pounds, with a reduction of 118.56 million pounds, by executing 23.71 million shares, which is treasury shares passed to purchase more than a year with a nominal value of 5 pounds per share, thus becoming the number of exported shares 1.43 billion Arrow.
EFG Holding Group profits
The profits of the EFG Holding Group fell by 24% during the first quarter of this year to record 1.6 billion pounds, compared to profits during the first quarter of last year, reaching 2.11 billion pounds.
The decline in profits came due to the exceptional gains resulting from the profits of the operation differences in the first quarter of 2024 due to the movement of the pound exchange rate against the dollar, which prompted foreign currency differences to decline by more than 75% during the first three months of this year to reach 602 million pounds, compared to 2.4 billion pounds during the comparative quarter.
Karim Awad, the group’s CEO, said that the decline in profits is mainly due to the unforgiving impact of currency differences and the reassessing investments during the floating period in March 2024.
