Cairo – Mubasher: Porto Group Holding on Wednesday reported a 109% year-on-year hike in consolidated profits for 2017 due to higher revenues.

Net profit stood at EGP 245.5 million last year, versus EGP 117.5 million a year earlier, the company said in a filing to the Egyptian Exchange (EGX).

Revenues grew to EGP 2.3 billion in 2017, from EGP 1.2 billion in 2016.

Standalone profits surged to EGP 177.15 million in 2017, compared to EGP 39.7 million in 2016.