Cairo – Mubasher: Mohandes Insurance posted a 29.5% year-on-year hike in its consolidated profits during the first nine months of fiscal year 2018/2019.

The insurer’s net profits amounted to EGP 101.46 million from July 2018 to last March, compared to EGP 78.33 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Thursday.

Year-on-year, the company’s insurance activity surplus rose to EGP 115.39 million in the nine-month period ended 31 March from EGP 85.02 million.

Earlier in May, the Cairo-based insurer reported a 33.3% year-on-year growth in its standalone profits, logging EGP 80.08 million during the July-March period of FY18/19, compared to EGP 60.04 million in the year-ago period.