Cairo – Mubasher: The Ministry of Public Enterprise Sector said on Friday that the estimated gross profit of its subsidiaries registered a growth of EGP 2 billion during the fiscal year 2016/2017, according to a statement.

Year-on-year, the estimated growth profits reached EGP 3.676 billion, compared to EGP 1.675 billion, the statement added.

The subsidiaries of the Holding Company for Maritime and Land Transport and the Holding Company for Tourism and Hotels (HOTAC) that approved their financial results reached 11 firms, achieving profits of EGP 4.493 billion in FY16/17.

The revenues of current activities amounted to EGP 63.177 billion during the FY16/17.