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Sarwa Capital profits up 11% in 9M

Sarwa Capital profits up 11% in 9M
Sarwa achieved profits of EGP 292.2 million in the first nine months of 2019

Cairo – Mubasher: Sarwa Capital Holding for Financial Investments reported an increase in profits during the first nine months of the year by 10.9% year-on-year (YoY), as shown by the company’s consolidated financial statements.

Sarwa achieved a net profit of EGP 292.22 million during the nine-month period, compared with EGP 262.32 million for the same period last year, according to the company’ statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, sales grew to EGP 1.94 billion, up from EGP 1.81 billion between January and September 2018.

Profits declined to EGP 99.3 million in the third quarter (Q3) of 2019, compared with EGP 107.36 million for the corresponding period in 2018.

Standalone financial statements showed an increase in profits to EGP 75.34 in the first nine months of 2019, up from EGP 20.79 million in the same period a year ago.