The board of Mohandes Insurance ratified unaudited financial statements for the fiscal year that ended on June 30, 2014, showing that net profit rose 20% to EGP 13.248 million from EGP 11.029 million a year earlier.
Financial results for the nine-month period that ended on March 31, 2014 had shown EGP 17.3 million net profit, with 23% increase compared with EGP 14.1 million net profit in the year-ago period. H1-FY13/14 profit had netted EGP 12.43 million, compared with EGP 12.85 million net profit in the corresponding period a year earlier. Mohandes Insurance operates with issued and paid-in capital of EGP 75 million, divided into 7.5 million shares at EGP 10 par value each.