Cairo – Mubasher: The unaudited standalone financial results of Arab Moltaqa Investment reported a 34% year-on-year profit drop during the first nine months of 2019.

Net profits dipped to EGP 28.2 million in the January-September period of 2019, compared to EGP 42.7 million in the prior-year period, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

Meanwhile, revenues fell to EGP 47.18 million in the nine-month period ended 30 September from EGP 49.36 million in the year-ago period.

It is noteworthy that during the first half of 2019, Arab Moltaqa Investment logged a net profit of EGP 32.03 million, compared to EGP 25.19 million in H1-18.