Cairo-Mubasher: Pioneers Holding Company for Financial Investment posted a 159% jump to EGP 564.439 million in the first half of 2015, up from EGP 217.925 million for the same period of 2014, said Waleed Ibrahim, chairman and managing director.

The company has successfully closed a number of acquisition deals totalling EGP 1.7 billion since the beginning of 2015, topped by Arab Dairy Products’ takeover deal, according to the top executive.

Pioneers sees 2015 as a promising year as well as a challenging one for the financial investment sector, amid the unstable political and economic conditions at both global and regional levels, affirmed Ibrahim.

He also said his company intends to increase its capital by EGP 3 billion, but after securing the approval of the extraordinary general meeting.

The company's decision to raise its capital for the second time, steamed stemmed from its successful use of the proceeds from the previous hike in enhancing its investments, stated Ibrahim.

The firm is capitalised at EGP 2.5 billion, distributed across 2.5 billion shares at EGP 5 par value each.