Cairo – Mubasher: Pioneers Holding Company for Financial Investment on Monday reported a 41% year-on-year growth in consolidated profits for the half of 2018.
Net profit stood at EGP 641.13 million in the six-month period ended June, up from EGP 454.122 million in the prior-year period, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX).
Revenues increased to EGP 3.8 billion in H1-18 from EGP 3.63 billion in the corresponding period last year.
Meanwhile, standalone profits retreated to EGP 9.8 million in H1-18, compared to EGP 106.2 million in the first six months of 2017.
The company logged a profit of EGP 371.6 million during the three-month period ended March, up from EGP 318.8 million in the year-ago period.
It is worth noting that Pioneers Holding had generated around EGP 1.14 billion in net profit for the full-year ended December 2017, versus EGP 1.08 billion in 2016.