Cairo – Mubasher: The consolidated financial statements of Al Tawfeek for Financial Lease (AT Lease) reported a 3.7% year-on-year fall in its net profits during 2019.

Net profits went down to EGP 67.15 million last year from EGP 69.79 million in 2018, the company said in a bourse statement on Wednesday.

On the other hand, revenues increased to EGP 523.76 million in the 12-month period ended 31 December 2019, compared to EGP 494.11 million a year earlier.

As for standalone business, the company’s net profits retreated to EGP 67.26 million in 2019 from EGP 69.8 million in the previous year.

In addition, the board of directors recommended distributing 0.2258 bonus share for every share held.

The board also approved the disclosure form to proceed with increasing the company’s issued and paid-up capital to EGP 287.32 million from EGP 234.4 million.

The capital raise will be distributed over 21.17 million shares at a nominal value of EGP 2.5 per share through a bonus issue at a rate of 0.0225 share for every share held to be financed from 2019’s earnings shown in the company’s standalone statements.