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MD Message
MD Message
I am pleased to welcome you all and thank our shareholders and
business associates for their continued support and confidence in
AMIC, and our staff for their tenacity, dedication and hard
work.
AMIC's team will continue to do their utmost to achieve new
levels of growth and unlock shareholder's value in the coming
years.
As one of the first Shariah compliant private equity companies
in Egypt, AMIC has been at the forefront in the investment sector
for more than 20 years.
Despite the challenging economic and political instability, AMIC
managed to achieve sustainable financial results due to our risk
diversification strategy for our investment portfolio spanning over
a broad range of industries.
We will continue to manage our resources prudently and closely
monitor our investments.
AMIC achieved an increase in its consolidated Operating Revenue
from EGP 45.03 Million in 2011 to EGP 104.48 Million in 2012, a
132% increase over the same period in 2011. The net profits after
minority rights have risen by 11.34% reaching EGP 15.51 Million in
comparison to EGP 13.93 Million for the same period in 2011.
AMIC's consolidated Assets as of 31st of December 2012 reached
EGP 1.9 Billion, up from EGP 253 Million in the same period in
2011. This dramatic increase resulted from the successful
acquisition of 80% of AT Lease, bringing AMIC's total ownership to
almost 90%. AT Lease is the first Shariah Compliant Leasing Company
in Egypt and one of the top ranked institutions in the financial
leasing industry.
Our Investments in the real estate sector is one of the
promising opportunities that AMIC is seeking to capitalize on. It
is worth to mention that AMIC owns a sizable landbank for
development.
Reorganization of the company's administrative structure in
addition to the restructuring of HR & IT were crucial decisions
that have been made to streamline the work processes, boost the
company's performance and assist the board to attract new calibers
at different functional levels.
Moving towards achieving AMIC strategic goals, we tend to invest
in Small & Medium Enterprises that have sustainable competitive
advantages with significant potential for growth.
I am proud to say that we remain upbeat about our prospects in
the coming year, and we will continue to execute our growth plans
for the coming year.
Khaled Abou Heif
Managing Director