Cairo – Mubasher: Al Tawfeek for Financial Lease (AT Lease) on Wednesday reported an 18.5% year-on-year increase in consolidated profits for 2018.

Net profit reached EGP 69.79 million last year, versus EGP 58.87 million in 2017, the company said in a filing to the Egyptian Exchange (EGX).

Revenues rose to EGP 775.4 million in 2018 from EGP 670.55 million a year earlier, the company added.

At the level of standalone business, profits grew to EGP 69.8 million in the year ended December 2018, versus EGP 58.04 million a year earlier.

In November, AT Lease posted a 14.8% year-on-year surge in consolidated profits for the first nine months of 2018.

The company logged profits of EGP 50.5 million in the nine-month period ended September 2018, versus EGP 44.05 million in the same period of 2017.

 Revenues rose to EGP 570 million in the January-September period last year, compared to EGP 491.9 million in the corresponding period of 2017.