Swvl Shares Rise on Strong 1Q

Dow Jones

May 15

By Josh Beckerman

Swvl shares rose after the company posted higher first-quarter revenue and gross margin, and said its higher percentage of dollar-pegged revenue is expected to mitigate currency volatility.

Shares were up 38% to $4.39 Wednesday and are down about 31% this year.

Swvl operates in the Middle East and Africa, with operations including shuttles for companies and schools, the Swvl Rider App and fleet-management technology.

The company said revenue under International Financial Reporting Standards was up 12% to $4.91 million. Constant-currency revenue was up 47%. Swvl said its net profit was $800,000.

"The ongoing scaling up of our commercial organization is already generating tangible results, positioning Swvl for faster growth in subsequent quarters," the company said.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

May 14, 2025 14:57 ET (18:57 GMT)

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