Cairo – Mubasher: Cleopatra Hospital Co said its consolidated profits soared by 166.5% year-on-year for fiscal year 2018.

Net profit amounted to EGP 315.19 million in the full-year ended 31 December 2018, versus EGP 118.23 million in 2017, the hospital operator added in a statement to the Egyptian Exchange (EGX).

The EGX-listed firm recorded revenues of EGP 1.45 billion at the end of December 2018, compared to EGP 1.12 billion in 2017.

At the level of standalone business, Cleopatra Hospital achieved an EGP 204.25 million in profits last year, versus EGP 82.54 million a year earlier.

In the same vein, the hospital’s board of directors has recommended not to distribute cash dividends to shareholders for 2018.

On the other hand, the board considers cash dividend payments to the company’s employees, according to a separate statement.

The hospital has not revealed any reasons for not distributing 2018 cash dividends to shareholders.

It is worth noting that Cleopatra previously reported consolidated profits of EGP 224.9 million during the first nine months of 2018, versus EGP 84.6 million in the corresponding period of 2017.

Meanwhile, the hospital’s standalone profits rose to EGP 147.2 million in the January-September period of 2018, compared to EGP 62.9 million in the same period a year earlier.