Cairo – Mubasher: Porto Group Holding on Monday reported a 41.9% year-on-year drop in consolidated profits for the first quarter of 2018, recording EGP 45.5 million from EGP 78.37 million, including minority shareholders’ rights.
Revenues grew to EGP 378.1 million in the three-month period ended last March, versus EGP 426.1 million in the year-ago period, the real estate developer said in a filing to the Egyptian Exchange (EGX).
On the other hand, standalone losses surged to EGP 3.77 million in Q1-18, from EGP 1.6 million in Q1-17.
Porto Group had previously posted a net profit of EGP 245.5 million for the full-year ended December 2017, compared to EGP 117.5 million in 2016.
