Cairo – Mubasher: Arabia Investments, Development and Financial Investment Holding Co on Sunday posted that it has turned to profitability for the first half of 2018, as compared with the same period a year earlier.
The company logged EGP 46.92 million in consolidated profit for the six-month period ended June, against EGP 16.3 million in losses for H1-17, according to a filing to the Egyptian Exchange (EGX).
Revenues rose to EGP 744.59 million at the end of June, versus EGP 586.87 million in the year-ago period.
The company attributed the increase in H1-18 profits to the improved growth rate in subsidiaries and the restructuring efforts.
As for the standalone business, Arabia Investments turned to losses with EGP 4.63 million in H1-18, versus EGP 1.42 million in profits for H1-17.
