Cairo – Mubasher: Nile City Investment reported a 15.7% year-on-year growth in its consolidated profits during 2017.

Net profits reached EGP 489.03 million in the 12-month period ended 31 December 2017, compared to EGP 422.6 million in 2016, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

Year-on-year, revenues rose to EGP 1.03 billion in 2017 from EGP 673.26 million in the prior year.

As for standalone business, the company turned into profits of EGP 229.24 million in 2017, against losses of EGP 422.6 million in 2016.