Cairo – Mubasher: Egyptian Media Production City Co on Sunday posted a 70.76% year-on-year surge in profit for the full-year ended 31 December 2018.
The company recorded EGP 93.4 million in net profits for 2018, versus EGP 54.7 million in 2017, according to a statement to the Egyptian Exchange (EGX).
Revenues grew to EGP 379.5 million last year, compared to EGP 360.86 million a year earlier.
The Egyptian media firm attributed its profit growth to low technical expenses of EGP 45 million, as well as the increase in banks’ interest by EGP 11.2 million.
Egyptian Media Production City previously reported a profit leap of 168.5% to EGP 62.58 million in the first nine months of 2018, compared to EGP 23.30 million in the corresponding period of 2017.
