Cairo – Mubasher: Nile City Investment reported a 34.3% year-on-year net profit growth during the first half of 2019.
The company’s net profits levelled up to EGP 344.78 million in the January-June period, compared to EGP 256.56 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Tuesday.
Meanwhile, revenues rose to EGP 580.53 million in the six-month period ended 30 June from EGP 546.07 million in the corresponding period of 2018.
As for standalone business, the company’s net profits hiked to EGP 167.71 million in H1-19, compared to EGP 120.86 million in H1-18.
As for the first quarter of the year, Nile City Investment logged a net profit of EGP 82.89 million, compared to EGP 62.53 million in Q1-18.
The company’s standalone profits surged to EGP 186.86 million in the three-month period ended 31 March, compared to EGP 137.53 million in the prior-year period.
It is noteworthy that during 2018, the EGX-listed firm posted a net profit of EGP 527.35 million, compared to EGP 489.04 million a year earlier, including minority shareholders’ rights.
