Cairo- Mubasher: The consolidated financial statements of the International Company for Investment and Development (ICID) revealed a 97.4% year-on-year increase in profits during the first half of 2019.
Year-on-year, the net profits hiked to nearly EGP 580,560 in H1-19 from around EGP 294,070.
Consolidated revenues rose to EGP 3.88 million in H1-19 from EGP 1.56 million in H1-18, ICID disclosed to the Egyptian Exchange (EGX) on Tuesday.
According to ICID’s initial unaudited standalone statements in July, net profit surged by 363.4% to EGP 1.29 million in H1-19 from around EGP 278,360 in H1-18.
It is worthwhile to mention that during the first quarter of 2019, the company incurred net losses worth around EGP 157,630 against profits of about EGP 56,850 in Q1-18.