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Arab Moltaqa posts 22% YoY higher consolidated profit in 9M/19

Arab Moltaqa posts 22% YoY higher consolidated profit in 9M/19
Revenue rose to EGP 462.8m in 9M
Arab Moltaqa Investments
AMIA
-4.47% 2.78 -0.13

Cairo – Mubasher: Arab Moltaqa Investment reported a 22% year-on-year profit increase during the first nine months of 2019, the company’s consolidated financial statements showed.

Profit grew to EGP 66.9 million from January to September 2019, compared to EGP 54.91 million in the year-ago period, according to a bourse statement released on Thursday.

Revenue rose to EGP 462.8 million in the January-September period, against EGP 420.2 million a year earlier.

Quarterly, the EGX-listed company’s profit increased to EGP 22 million in the third quarter of 2019, from EGP 17.3 million in Q3-18.

It is worth mentioning that Arab Moltaqa’s unaudited standalone financial results reported a 34% year-on-year profit drop during the first nine months of 2019.