Cairo – Mubasher: Nile City Investment’s profits increased by 4.7% year-on-year (YoY) during the first nine months of 2019, the company’s consolidated financial statements revealed.

The company recorded a net profit of EGP 508.9 million in the January-September period, versus EGP 485.78 million in the same period in 2018, according to a disclosure to the Egyptian Exchange (EGX) on Thursday.

During the first nine months, the revenues declined to EGP 896.93 million, compared to EGP 931.06 million in the same period in 2018.

As for the standalone financial statements, the profits lowered to EGP 239.97 million in 9M-19 from EGP 247.31 million in 2018.

Noteworthy to mention, in the January-June period in 2019, the company’s net profits reached EGP 344.78 million, up from EGP 256.56 million in the corresponding period in 2018.

During the first half of 2019, revenues rose to EGP 580.53 million from EGP 546.07 million in the same half in 2018.