Cairo – Mubasher: Pioneers Holding Company for Financial Investment on Thursday reported a 61% year-on-year surge in consolidated profit for the third quarter of 2017 due to higher revenues.

Net profit amounted to EGP 243.3 million in the three-month period ended September 2017, up from EGP 151.2 million in the prior-year period, the company highlighted in a filing to the Egyptian Exchange (EGX).

Revenues climbed EGP 2.4 billion in Q3-17 from EGP 795.5 million in the corresponding period last year.

In the first nine months of 2017, net profit retreated to EGP 697.5 million from EGP 855.8 million in the year-ago period.

Standalone profit dropped to EGP 60.3 million in the nine-month period ended September 2017, compared to EGP 116.005 million last year.

By 10:48 am Cairo time, Pioneers Holding’s stock rose 1.08% to EGP 8.41.