Cairo – Mubasher: Arabia Investments, Development and Financial Investment Holding posted a 7.7% year-on-year decline in its consolidated profits during the first quarter of 2019.
Net profits registered EGP 22.13 million in the January-March period of 2019, compared to EGP 23.99 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.
Year-on-year, the company’s revenues retreated to EGP 329.83 million in the three-month period ended 31 March from EGP 428.49 million.
As for standalone business, the company’s losses rose to EGP 6.52 million in Q1-19, compared to EGP 2.87 million in Q1-18.
For the full-year 2018, the company turned to profits of EGP 72.77 million, against losses of EGP 180.38 million in 2017, including minority shareholders’ rights.
Revenues grew to EGP 1.4 billion in the January-December period of 2018 from EGP 1.39 billion in the prior year.
As for standalone business, the company’s losses amounted to EGP 9.3 million last year, compared to EGP 443.2 million in 2017.
