Citadel posts EGP10.5m in 2013 net income

March 4, 2014 2:21 am

Egypt’s Citadel Capital has said its 2013 net profit totalled EGP 10.5m and revenues amounted to EGP 126.6m, marking a 1.9% year-on-year increase, Daily News Egypt has reported. The company attributed the rise in profit to “prudent” risk management throughout 2013, “which reflected on the company’s financial performance.” “Quarter on quarter revenues rose 59.8% on stable advisory fees and EGP31.2m in dividend proceeds from a fully-owned Citadel Capital subsidiary,” the firm said.