Cairo - Mubasher: Egypt Free Shops on Thursday reported a 55.7% year-on-year growth in net profits during the first half of fiscal year 2018/2019.

The company’s net profits surged to EGP 72.89 million in H1 FY18/19, against EGP 46.8 million during the corresponding period in the prior fiscal year, according to a filling to the Egyptian Exchange (EGX).

Revenues of Egypt Free Shops amounted to EGP 366.91 million by the end of December 2018, from EGP 203.1 million during the same period in FY 17/18.

During the third quarter of 2018, Egypt Free Shops posted EGP 35.7 million in profits, compared to EGP 21.16 million in the corresponding period in 2017, taking into consideration the minority shareholders’ rights.