Cairo - Mubasher: The financial statements of Mohandes Insurance showed a rise in profits by 144.75% in the second quarter of fiscal year 2016/2017, according to the company’s statements to the Egyptian Exchange (EGX).
Profits reached EGP 44.3 million in the three-month period which ended on 31 December 2016, compared to profits of EGP 18.1 million in the same quarter last year.
The company’s profits also grew 190.8% in the first half of FY16/17 to EGP 70.28 million up from EGP 24.16 million in the same period last year.
In a separate bourse filing, the company noted that the Egyptian pound's flotation and liberalisatoin of the exchange rate has positively affected the company’s results by around EGP 40.6 million.
