Cairo – Mubasher: The consolidated financial statements of EFG Hermes reported a 39.5% year-on-year profit increase during the first nine months of 2019.
Net profits hiked to EGP 1.04 billion in the January-September period, compared to EGP 751.4 million in the year-ago period, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.
Meanwhile, the company’s revenues grew to EGP 2.44 billion in the nine-month period ended 30 September from EGP 1.85 billion in the corresponding period a year earlier.
At the level of standalone financials, the company suffered net losses of EGP 140.2 million during the first nine month of the year, against net profits of EGP 183.6 million in the prior-year period.
As for the third quarter of 2019, EFG Hermes logged a consolidated net profit of EGP 362.2 million, up from EGP 274.25 million in Q3-18.
It is worth mentioning that during the first half of 2019, the EGX-listed firm’s net profits amounted to EGP 686.56 million, compared to EGP 477.17 million in H1-18.
