Cairo - Mubasher: Mohandes Insurance reported a surge in profits in the second quarter of fiscal year 2016-2017 by 309.1% year-on-year, according to a bourse filing.
According to the Company’s statement to the Egyptian Exchange (EGX) on Monday, profits reached EGP 62.81 million in the quarter ended 31 December 2016 compared to EGP 15.35 million in the same period the year before.
Profits in the six-month period from July to December also jumped by 191% to EGP 70.28 million from EGP 24.16 million in the same period in 2015.
The company said that the rise in profits is attributed to FX revenues which totalled EGP 33 million in H1, while income from continuous activities amounted to EGP 37 million.
