Cairo – Mubasher: The financial indicators of Porto Group Holding on Sunday showed a 263% year-on-year hike in profits for the first nine months of 2017.
Net profit amounted to EGP 251.87 million in the nine-month period ended 2017, versus EGP 69.32 million in the prior-year period, the firm highlighted in a filing to the Egyptian Exchange (EGX).
Total revenues jumped 166% to EGP 1.76 billion in the period from January to September 2017 from EGP 664 million in the corresponding period of 2016.
Sales rose 6.17% to EGP 2.071 billion from EGP 1.76 billion in the comparative period.
Operating income doubled to EGP 327 million in the nine-month period from EGP 77 million in the year-ago period.
The EGX-listed company achieved net profit of EGP 73.95 million in three-month period ended September 2017, versus EGP 25.89 million in Q3-16.
Revenues reached EGP 530.85 million in Q3-17 from EGP 242.67 million in the year-ago period.
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.
