Cairo – Mubasher: Porto Group Holding is expected to achieve profits of EGP 296 million during 2017, according to a report by Prime Research on Sunday.

Prime Research forecast Porto Group’s revenues to reach EGP 2.2 billion in 2017, noting that the company’s performance in 2017 was compatible with Prime Research’s expectations, recommending the company to keep the fair value (FV) at EGP 0.42.

Porto Group achieved profits of EGP 99.5 million in the three months ended June 2017, from EGP 15.6 million in the same period last year.

Similarly, revenues rose to EGP 809.06 million in the second quarter of 2017, compared to EGP 230.8 million in Q2-16.

The financial results of Porto Group had previously shown that consolidated profits amounted to EGP 117.5 million.