Cairo – Mubasher: El Wadi for Touristic Investment reported a 30% year-on-year profit rise during the first nine months of 2019.

Net profits went up to EGP 45.9 million in the January-September period, compared to EGP 35.28 million in the corresponding period of 2018, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

Meanwhile, income from hotel activity increased to EGP 15.5 million from EGP 14.5 million in the year-ago period.

As for the third quarter of the year, El Wadi for Touristic Investment logged a net profit of EGP 1.1 million, compared to EGP 1.6 million in Q3-18.

It is worth mentioning that during the first half of 2019, the EGX-listed company’s net profit grew to EGP 44.84 million from EGP 34.23 million in H1-18.