Cairo – Mubasher: Misr Insurance Holding Company aims to generate a revenue of EGP 1.55 billion in fiscal year 2018/2019, a 36% higher than FY16/17 revenues.
The state-run company targets a net profit of EGP 1.19 billion in the next fiscal year, 29% above FY16/17 profits, the company said in a statement on Monday.
This came on the sidelines of the ordinary general meeting (OGM) to approve FY18/19 estimated budget.
The company’s subsidiaries target a 17.6% growth in revenues to reach EGP 16.3 billion in FY18/19 and a 2.3% increase in net profit for FY16/17.
Misr Insurance Holding plans to offer shares in Misr Insurance and Misr Life Insurance on the Egyptian Exchange (EGX) within the framework of the government initial public offerings (IPOs) programme.
