MCDR Says FY/11 Net Profit 23% Down, Completes LSE’s Database

Misr for Central Clearing, Depository and Registry (MCDR) reported on Thursday a 23% decline in its net profit which hit EGP 50.159 million during the FY /2011 through the total net profit of the Central Clearing and Depository systems besides the net profit of its Settlement Guarantee Fund (SGF).  The MCDR had posted a net profit of EGP 65.426 million during the same period a year earlier.

MCDR’s working capital for FY/2011 rose to EPG 176 million, compared to EGP 175 million for the same period a year earlier. The total investments also surged to EGP 451 million, compared to EGP 447 million.

The total current assets climbed by 58% to EGP 2.949 billion for FY/2011, compared to EGP 1.859 billion for the same period a year earlier.

The MCDR has recently completed setting up and running the pilot environment for the Libyan Stock Market’s databases within the framework of the cooperation agreement signed with the LSE.

The MCDR also said it has completed the preparations for its branch in New Cairo to be used for transferring the back-up accounts in case of emergency.

Meanwhile, During the FY/2011, the number and the values of the transactions entered into the SGF fell by 41.55% and 79.02% respectively, compared to the same period a year earlier.

The SGF has given the returns on capital investment to its members for 2010 with total amount of EGP 22.1 million.