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Sarwa Capital’s profit drops 27% in Q1-20

Sarwa Capital’s profit drops 27% in Q1-20
The company’s net profits levelled down to EGP 93.78 million
Sarwa Capital Holding
SRWA
-100.00% 3.15 -3.09

Cairo – Mubasher: The consolidated financial statements of Sarwa Capital Holding for Financial Investments reported a 26.6% year-on-year profit decline during the first quarter of 2020.

The company’s net profits levelled down to EGP 93.78 million in the January-March period, compared to EGP 127.87 million in the prior-year period, including minority shareholders’ rights, according to a bourse disclosure on Thursday.

In the meantime, sales leapt to EGP 840.32 million in Q1-20 from EGP 408.69 million in Q1-19.

As for standalone business, Sarwa Capital Holding achieved net profits of EGP 3.157 million during the first three months of the year, down from EGP 71.12 million in the year-ago period.

It is noteworthy to mention that in 2019, the company’s net profits grew to EGP 406.51 million from EGP 297.81 million, including minority shareholders’ rights.