Cairo – Mubasher: Egypt Free Shops posted a 44.6% year-on-year rise in its consolidated profits during the first nine months of fiscal year 2018/2019.

Net profits recorded EGP 110.35 million from July 2018 to last March, compared to EGP 76.33 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, revenues surged to EGP 573.1 million in the nine-month period of FY18/19 from EGP 358.8 million in the same period of FY17/18.

As for standalone business, Egypt Free Shops logged EGP 110.44 million in profits in the nine-month period ended 31 March, compared to EGP 76.53 million in the corresponding period a year earlier.

During the July-December period of 2018, the company’s profits rose to EGP 73.16 million from EGP 47.03 million in the same period of FY17/18, including minority shareholders’ rights.