Sarwa Capital’s 4Q profit unchanged, volatility seen in the short term

EARNINGS WATCH- Sarwa Capital’s 4Q profit unchanged, volatility seen in the short term: Structured- and consumer-finance firm Sarwa Capital’s 4Q2018 net income was unchanged compared to a year earlier at EGP 34.6 mn, impacted by one off items such as IPO fees and provision for the health insurance tax, the company said in a statement (pdf). Revenues for FY2018 grew 51.4% y-o-y to EGP 52.2 mn. The company expects volatility in the short term but sees market dynamics offering chances for expansions as demand picks up. “Going forward, we expect continued strength across our business, while closely monitoring developments and shifts in our underlying asset markets and consumer dynamics as a result of macroeconomic and monetary policy developments,” Sarwa said in the statement. It plans to make “substantial investment” in technology to widen its reach.