Cairo – Mubasher: Porto Group Holding posted a 537.8% year-on-year leap in profits for the second quarter of 2017 due to a growth in revenues, according to a bourse filing on Sunday.
The Egyptian firm achieved net profits of EGP 99.5 million in Q2-17 from EGP 15.6 million in Q2-16.
Revenues increased to EGP 809.05 million in Q2-17, versus EGP 230.8 million in Q2-16.
In the first half of 2017, consolidated profits rose to EGP 177.9 million from EGP 43.4 million in H1-16, taking minority rights into consideration.
Standalone loss declined to EGP 3.5 million in H1-17, compared to EGP 7.4 million in H1-16.
The company achieved profits of EGP 78.37 million in the three months ended March, versus EGP 27.82 million in the same period last year.
By 10:41 am Cairo time, Porto Group’s stock went up 2.38% to EGP 0.43, with a turnover of EGP 9.07 million.
