Cairo – Mubasher: 72 Egyptian companies affiliated to the public business sector have achieved profits of EGP 613 million in the fiscal year 2015-2016, said Minister of the Public Business Sector - Ashraf El-Sharkawy.
Egypt’s public business sector comprises 125 companies.
Out of the 72 companies, 38 companies have witnessed an improvement in their financial performance where seven companies have turned profitable while 18 companies achieved profit increase and the remaining 13 companies narrowed their losses.
The 125 companies have suffered losses of 323 million in FY15/16, noted El-Sharkawy.
The companies operated by the Transportation Holding Company saw an increase of 62% in their net profits in FY15/16, while the three companies that operated by the Insurance Holding Company recorded profits of nearly EGP 1.59 billion in FY15/16.
