Cairo – Mubasher: Pioneers Holding Company for Financial Investment on Sunday reported an 18% year-on-year increase in consolidated profits for the first nine months of 2018.
Net profit totalled EGP 821.6 million in the nine-month period ended September, versus EGP 697.5 million in the prior-year period, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX).
Revenues amounted to EGP 5.6 billion at the end of September from EGP 5.77 billion in the corresponding period last year.
Quarter-on-quarter, profits declined to EGP 180.5 million in the third-quarter of 2018, against EGP 243.4 million in Q3-17.
At the level of the standalone business, the company logged EGP 9.8 million in profits in the January-September period, compared to EGP 60.3 million in the prior-year period.
Pioneers Holding previously posted a 41% year-on-year growth in consolidated profits for the half of 2018, recording a net profit of EGP 641.13 million, versus EGP 454.122 million.
