Cairo- Mubasher: The consolidated financial statements of Egyptians Abroad for Investment and Development revealed a 49.1% year-on-year decline in profit during the first half of 2019.

Egyptians Abroad registered net profits worth EGP 1.55 million in H1-19, compared to EGP 3.05 million in H1-18, the company disclosed on Monday.

The company’s revenues fell to EGP 5.45 million in the first half of 2019, compared to EGP 13.74 million in H1-18.

As regards the standalone financial statements, Egyptian Abroad’s profits jumped to EGP 2.94 million in H1-19, compared to EGP 1.68 million in H1-18.

It is noteworthy that in the first quarter of 2019, Egyptians’ Abroad revenues plunged to EGP 3.53 million from EGP 8.29 million in Q1-18.

As regards standalone financial statements in Q1-19, Egyptians Abroad’s net profits dropped to around EGP 93,410 from EGP 1.3 million in Q1-18