Cairo - Mubasher: The Egyptian ministry of public business sector announced on Monday that the earnings of three holding companies increased by 33.9% year-on-year during the fiscal year that ended 30 June 2016.

The ministry said in a press conference that the companies’ profits reached EGP 3.87 billion, compared to EGP 2.89 billion last year.

The Holding Company for Maritime and Land Transport reported a 61.6% rise in profits to EGP 2.1 billion from 1.3 billion in the year before.

Misr Insurance Holding Company also registered a 13.6% increase in net profits to EGP 1.59 billion, according to the statement.

Meanwhile, Holdipharma recorded an 11% decline in profits to EGP 167.4 million from EGP 188.64 million last year.