Cairo – Mubasher: Mohandes Insurance reported a 12.96% year-on-year increase in its net profit during fiscal year 2018/2019, the company’s audited consolidated financial statements showed.

Net profits grew to EGP 145.04 million from July 2018 to the end of last June, compared to EGP 128.39 million in FY17/18, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.

Meanwhile, the company’s insurance activity surplus rose to EGP 180.68 million in FY18/19 from EGP 144.54 million in the previous fiscal year.

At the level of standalone financials, the insurer posted a net profit of EGP 92.21 million in the last fiscal year, compared to EGP 80.137 million a year earlier.

It is noteworthy that during the first nine months of FY18/19, the company logged a net profit of EGP 101.46 million, compared to EGP 78.33 million in the year-ago period.