Mubasher: NAEEM Holding for Investment, listed on the Egyptian Exchange (EGX) and the Dubai Financial Market (DFM), on Wednesday reported a 423% year-on-year hike in consolidated profits for the first half of 2018.

Net profit stood at $2.4 million in the six-month period ended June, compared to $0.5 million in H1-17, the company said in a filing to the Dubai Financial Market (DFM).

Operating revenues soared 113% to $10.65 million in H1-18, versus EGP 5 million in the prior-year period.

In the second quarter of 2018, the company logged $192,015 in profits, compared to $326,418 in Q2-18.

Total revenues grew to $4.1 million in the three-month ended June, versus $3.4 million in the year-ago period.

It is worth noting that Naeem Holding’s consolidated profits for Q1-18 skyrocketed 1,511% year-on-year to $2.24 million, versus $139,070 in Q1-17.

Moreover, the company’s revenues surged to $5.9 million in Q1-18 from $3.4 million in the prior-year period.