Cairo – Mubasher: Cleopatra Hospital Co reported a 26.7% year-on-year decline in its net profit for the first half of 2019, according to the company’s consolidated financial statements.

Net profits plunged to EGP 97.74 million in the January-June period of 2019, compared to EGP 133.4 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

Revenues rose to EGP 825.04 million in the six-month period ended 30 June from EGP 673.78 million in the corresponding period a year earlier.

On the other hand, the company’s cost of activities increased to EGP 540.17 million in H1-19, compared to EGP 450.78 million in H1-18.

At the level of standalone business, Cleopatra Hospital Co’s profit inched down 2.4% year-on-year, recording EGP 84.79 million in H1-19, compared to EGP 86.9 million in H1-18.

As for the second quarter of 2019, the company’s profits dipped to EGP 42.6 million from EGP 76.2 million in Q2-18.

It is noteworthy that during Q1-19, Cleopatra Hospital Co logged a profit of EGP 55.139 million, compared to EGP 57.195 million in Q1-18.