Cairo – Mubasher: Al Ahly for Development and Investment reported a 61% year-on-year profit hike during the first half of 2019.

Net profits reached EGP 9.68 million during the six-month period ended 30 June, compared to EGP 6 million in the year-ago period, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

Year-on-year, the company generated revenues of EGP 86.61 million in the January-June period of 2019, compared to EGP 86.6 million.

As for standalone business, the EGX-listed firm’s profit plunged to EGP 166,747 in H1-19 from EGP 9.3 million in H1-18.