Augustus Media Holdings Ltd H1 Report 2024
LETTER TO SHAREHOLDERS
Dear Shareholders,
I am pleased to present the Financial Report for Augustus Media Holdings LTD for the first half of the year 2024. This report highlights our remarkable achievements during the initial six months and provides a comprehensive overview of our financial performance. Our accomplishments during this period have positioned us for a promising journey towards surpassing our annual projections.
- Exceeding Expectations: First Half Highlights
The first half of 2024 has witnessed extraordinary accomplishments across key financial metrics. Our dedication, strategic decisions, and hard work have propelled us beyond expectations:
Revenue Growth: Our revenue growth in the first half of the year exceeded 20% growth from same period last year. A testament to our strong market positioning and effective customer engagement strategies.
Profitability: Our focus on operational efficiency has led to an increase in profitability, with a 54% improvement in operating profit margins compared to the same period last year.
Cost of sale : due to the strength of our original content and position of our brand, the cost of sale decreased by 35%
Cash Flow Management: In comparison to the corresponding period last year, there was a notable 55% surge in inflow, while outflow also saw an increase, though at a more modest rate of 32%. Remarkably, net cash flow generated based on operating costs experienced a substantial growth of 692% compared to the same period last year.
- Key Factors Driving Success
Several factors have been instrumental in our achievements during the first half:
Strategic Planning: Through meticulous planning, we executed targeted service expansion and geographic outreach, yielding substantial regional growth in our new offices in Doha Additionally, we established our presence in new territories such as Beirut, Muscat,, Iraq, and Palestine, strategically positioning ourselves for a competitive edge in the market.
Customer-Centric Approach: Understanding and responding to customer needs through tailored solutions have fostered strong relationships and customer loyalty.
Operational Excellence: Streamlined processes and improved resource allocation have increased our operational efficiency, enhancing overall productivity.
Innovation: Our commitment to innovation, both in product development and business processes, has enabled us to stay ahead of evolving market demands.
- On the Path to Breaking Annual Projections
The exceptional performance in the first half sets a solid foundation for exceeding our annual projections:
Strategies for Success: Our strategies for the remainder of the year include further diversification of product offerings, exploring new markets, and enhancing customer engagement.
Market Trends: Industry trends continue to align with our strengths, presenting opportunities for sustained growth and market leadership.
This positive contribution to our EBITDA has led to a net profit margin improvement and marked the first time we have recorded a positive net income in the EGY books. Additionally, our cash flow from operations has strengthened, enhancing our overall financial stability and shareholder equity.
- Appreciation and Looking Ahead
We express our sincere appreciation to our dedicated team, committed stakeholders, and valued customers for their contributions to these remarkable achievements. As we move into the second half of 2024, we look forward to the potential for continued growth and success with great enthusiasm.
Download the full report: H1 24 Investor Report
