Cairo – Mubasher: Pioneers Holding Company for Financial Investment earned EGP 354.5 million ($39.8 million) in the first quarter of 2016, said the company in a bourse filing according its consolidated financial results.   

The company’s earnings thus jumped 47% year-over-year from EGP 241.4 million ($27 million).

Its standalone Q1 profits surged 904% year-on-year to EGP 52.4 million ($5.9 million) from EGP 5.4 million ($600,000).  

During 2015, the company’s consolidated profits jumped to EG 802.35 million, up 73% from EGP 463.49 million a year earlier.