Cairo – Mubasher: Pioneers Holding Company for Financial Investment on Sunday reported a 7.5% year-on-year increase in consolidated profits for the full-year ended 31 December 2018.
Net profit amounted to EGP 1.22 billion in the period starting January to December 2018, versus EGP 1.14 billion in 2017, including minority shareholders’ rights, Pioneers said in a filing to the Egyptian Exchange (EGX).
The company’s revenue rose slightly to EGP 8.4 billion last year, versus EGP 8.23 billion a year earlier, according to the filing.
At the level of standalone business, the EGX-listed firm achieved profits of EGP 97.03 million in 2018, versus EGP 73.34 million in 2017.
In December, Pioneers Holding posted EGP 821.6 million in consolidated profits for the first nine months of 2018, versus EGP 697.5 million in the corresponding period of 2017.
Revenues reached EGP 5.6 billion during the nine-month period of 2018, agianst EGP 5.77 billion in the same period a year earlier.
The company’s standalone profits stood at EGP 9.8 million in the January-September period, compared to EGP 60.3 million in the same nine-month period of 2017.
