Cairo – Mubasher: The consolidated financial statements of Arabia Investments Holding (AIH) reported a 13.3% year-on-year (YoY) increase in its net profits during 2019.

The company’s net profits grew to EGP 82.48 million in the 12-month period ended 31 December 2019, compared to EGP 72.77 million a year earlier, according to a bourse disclosure on Wednesday.

Meanwhile, the company generated EGP 1.22 billion in revenue last year, down from EGP 1.41 billion in 2018.

In addition, the cost of revenues retreated to EGP 943.81 million in 2019, compared to EGP 1.13 billion in the previous year.

As for standalone business, AIH’s net loss shrank to EGP 4.13 million last year from EGP 9.36 million in 2018.

It is worth mentioning that the first nine months of 2019, the company’s net profit fell to EGP 40.5 million from EGP 64.33 million in the year-ago period.