Cairo – Mubasher: Modern Waterproofing (Bitumode) posted a 510.7% year-on-year profit hike during the first half of 2019, according to the company’s consolidated financial results.

Net profits leapt to EGP 31.25 million in the six-month period ended 30 June, compared to EGP 5.11 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Sales soared to EGP 227.16 million in the January-June period of 2019 from EGP 182.5 million in the same period a year earlier.

As for the non-consolidated results, Bitumode previously reported net profits of EGP 32.82 million in H1-19, compared to EGP 10.45 million in H1-18.