Cairo- Mubasher: The consolidated financial statements of Arabia Investments Holding Company revealed a 32.6% year-on-year decline in profits during the first half of 2019.

The profits of the period slumped to EGP 31.6 million in H1-19 from EGP 46.9 million in H1-18, including minority shareholders’ rights, the company disclosed to the Egyptian Exchange (EGX) on Wednesday.

The company’s revenues shrank to EGP 715.9 million in H1-19 from EGP 744.6 million in H1-18.

Arabia Investments’ standalone profits amounted to around EGP 970,100 in H1-19, against EGP 4.6 million losses in H1-18. 

Noteworthy, in the first quarter of 2019, the company’s net profits declined to EGP 22.13 million from EGP 23.99 million in Q1-18.