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Saudi Egyptian Investment records higher profit in 2019

Saudi Egyptian Investment records higher profit in 2019
Revenue declined to EGP 28.54 million

Cairo – Mubasher: Saudi Egyptian Investment and Finance has reported a 4.25% year-on-year profit increase during the fiscal year 2019.

The company’s net profit went up to EGP 23.26 million last year, compared to EGP 22.31 million in the year-ago period, according to a bourse statement released on Thursday.

Meanwhile, revenue declined to EGP 28.54 million in 2019, from EGP 29.2 million in 2018.

The EGX-listed company’s board recommended the distribution of EGP 1 per share in cash dividends.

It is noteworthy that Saudi Egyptian Investment’s profit totalled EGP 18.99 million over the January-September 2019 period, down from EGP 18.2 million a year earlier.