Cairo – Mubasher: MB for Engineering and Contracting on Monday reported a year-on-year consolidated profit increase of 332.9% in the first quarter of 2017.
Net profits rose to EGP 3.85 million in Q1-17, compared to EGP 890,300 in Q1-16, according to a filing to Egyptian Exchange (EGX).
Sales rose 72.3% reaching EGP 31.6 million in Q1-17, compared to EGP 18.4 million in the same quarter in the year earlier, the statement added.
Meanwhile, standalone profits slid 97.22% to EGP 21,500 in Q1-17, compared to EGP 772,700 in the corresponding period in the year before.
The Egypt-listed company had previously reported a 15.9% growth to EGP 8.9 million in 2016.
By 11:43 am Cairo time, the stock added 1.01% to reach EGP 1.
