Cairo – Mubasher: International Company for Leasing (Incolease) reported a 2.7% year-on-year net profit increase during the first quarter of 2019 on the back of lower costs.
The Egyptian company’s net profits amounted to EGP 29.39 million in the three-month period ended 31 March, compared to EGP 28.6 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX) on Monday.
Meanwhile, revenues retreated to EGP 286.9 million in Q1-19 from EGP 310.04 million in Q1-18.
On the other hand, costs of revenues dropped to EGP 241.45 million in the January-to-March period, compared to EGP 269.16 million in the corresponding period a year earlier.
For the full-year 2018, Incolease logged EGP 107.07 million from EGP 96.14 million in the previous year.
Revenues grew by 2.71% to EGP 1.214 billion last year, compared to EGP 1.182 billion in 2017.
