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Swvl's Remarkable Turnaround: Achieves First-Ever Profitability by Navigating Challenges and Strategic Shifts

Swvl's Remarkable Turnaround: Achieves First-Ever Profitability by Navigating Challenges and Strategic Shifts

#finance
#finance
#startup
#mobility
In a surprising twist, mobility startup Swvl has reported its first net profit in H1 2023, marking a significant rebound from previous financial struggles. 🚀 Despite a 49% revenue decline, the company's strategic moves, including layoffs and business focus realignment, have propelled it to profitability. 📈 Discover how Swvl's shift to a B2B model and concentrated market approach led to this remarkable financial reversal.

Swvl, the once-struggling mobility startup, has achieved its first-ever net profit in H1 2023, turning around from a $161.6 million loss in H1 2022. 📉 The company strategically sold subsidiaries, focused on Egypt, Saudi Arabia, and the UAE, and transitioned into a B2B model. 💼 Despite a 49% revenue decline, Swvl posted a net profit of $2.1 million and an operating profit of $13.4 million. 🌐 Its stock price soared over 100%, signaling positive investor sentiment. 📈 Read about Swvl's journey from financial woes to profitability amid market challenges and strategic shifts. 


#SwvlSuccess #FinancialTurnaround #B2BModel #BusinessSuccess #Swvl #Profitability


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