Cairo – Mubasher: The consolidated financial statements of Sarwa Capital Holding for Financial Investments showed a 36.4% year-on-year profit growth to EGP 406.51 million in 2019 from EGP 297.81 million, including minority shareholders’ rights.

The company’s sales revenue rose to EGP 2.91 billion last year from EGP 2.37 billion a year earlier, while the cost of sales increased to EGP 2.86 billion from EGP 2.34 billion in 2018, according to a statement to the Egyptian Exchange (EGX) on Sunday.

As for standalone financials, the company reported net profits of EGP 202.75 million in 2019, compared to EGP 17.47 million in the previous year.

In addition, the company’s board of directors recommended a cash dividend distribution of EGP 0.10 per share, totalling EGP 116.75 million, for 2019.

The proposal will be reffered to the company’s ordinary general meeting (OGM) for approval.

It is noteworthy to mention that during the January-September period of 2019, Sarwa Capital’s net profits grew to EGP 292.22 million from EGP 262.32 million in the prior-year period.