Cairo – Mubasher: Elsaeed Contracting and Real Estate Investment Company (SCCD) reported a 137.2% year-on-year hike in its consolidated profits during the first quarter of 2019.

Net profits amounted to EGP 32.11 million in the January-March period of 2019, compared to EGP 13.54 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Monday.

Year-on-year, revenues rose to EGP 221.501 million in the three-month period ended 31 March from EGP 215.102 million.

As for standalone business, the company’s profits surged to EGP 32.258 million in Q1-19 from EGP 13.151 million in Q1-18.

For the full-year 2018, the EGX-listed firm logged a net profit of EGP 57.04 million, compared to EGP 45.99 million a year ago.

Revenues retreated to EGP 736.86 million last year from EGP 800.18 million in 2017.

The company’s standalone profits grew to EGP 56.95 million in 2018, compared to EGP 45.87 million in the previous year.