Cairo – Mubasher: Sarwa Capital Holding for Financial Investments posted a 24% year-on-year profit growth during the first half of 2019.
The Egyptian firm’s profits surged to EGP 192.9 million in the January-June period of 2019, compared to EGP 155.9 million in the year-ago period, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Monday.
Year-on-year, sales of goods and services declined to EGP 1.03 billion in the six-month period ended 30 June from EGP 1.08 billion.
At the level of standalone business, the company logged a profit of EGP 74 million in H1-19, compared to EGP 20.19 million in H1-18.
As for the second quarter of 2019, Sarwa Capital’s profits plunged to EGP 65.04 million from EGP 100.3 million in the prior-year period.
During Q1-19, the company’s net profits hiked to EGP 127.87 million, compared to EGP 55.65 million in the corresponding period a year earlier.
