Cairo – Mubasher: International Company for Leasing (Incolease) posted a 3.5% decline in its net profits during the first nine months of 2019.

Net profits dropped to EGP 81.13 million in the January-September period of 2019, compared to EGP 84.08 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, Incolease’s revenues fell to EGP 520.64 million in the nine-month period ended 30 September from EGP 576.5 million in the corresponding period of 2018.

As for the third quarter of the year, the company logged a net profit of EGP 24.22 million, down from EGP 26.59 million in Q3-18.

It is worth mentioning that during the first half of 2019, the EGX-listed firm’s net profit decreased to EGP 56.9 million from EGP 58.27 million in H1-18.