Cairo – Mubasher: Odin Investments posted a 65.7% year-on-year profit decrease during the first nine months of 2019, according to the company’s consolidated financial statements.
Net profits plummeted to EGP 731,404 in the nine-month period ended 30 September, compared to EGP 2.13 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.
Meanwhile, activity revenues went down to EGP 6.71 million in the January-September period from EGP 13.699 million in the same period a year earlier.
As for standalone business, the company logged a net profit of EGP 2.984 million in the first nine months of the year, up from EGP 839,417 in the prior-year period.
It is noteworthy that during the first half of 2019, Odin Investments’ net profits dipped to EGP 1.55 million, compared to EGP 3.05 million in H1-18.
