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Zahraa Maadi Investment posts higher Q2 profits

Zahraa Maadi Investment posts higher Q2 profits
Q2 profits reached $6.8 million - (Photo Credit: Company's Website)
Zahraa Maadi
ZMID
-3.51% 6.60 -0.24

Cairo – Mubasher:  Zahraa  Maadi Investment and Development posted a 66% rise in its net profit for the second quarter of 2016, according to a bourse sharing.

The company's net profit after tax reached EGP 54.2 million ($6.8 million) in Q2, compared with EGP 32.7 million ($3.7 million) for the year-ago quarter.

Over the first half of the fiscal year, the company earned EGP 97.4 million, higher 51% year-over-year from EGP 64.3 million.

In the first quarter, the company registered EGP 43.13 million profits ($4.8 million).