Cairo – Mubasher: Pioneers Holding Company for Financial Investment reported a 22.9% year-on-year profit increase in the first quarter of 2019.
The company’s consolidated net profits amounted to EGP 456.795 million in the January-March period of 2019, compared to EGP 371.678 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.
Year-on-year, revenues from activities rose to EGP 2.487 billion in the three-month period ended 31 March from EGP 1.82 billion.
As for standalone business, the company’s profits retreated 41.42% to EGP 3.355 million in Q1-19, compared to EGP 5.728 million in Q1-18.
For the full-year 2018, the EGX-listed firm’s net profit amounted to EGP 1.22 billion from EGP 1.14 billion in 2017, including minority shareholders’ rights.
The company’s revenue rose to EGP 8.4 billion last year from EGP 8.23 billion a year earlier.
At the level of standalone business, the company logged a profit of EGP 97.03 million in 2018, compared to EGP 73.34 million in 2017.
