Cairo – Mubasher: Porto Group Holding announced turning to net losses of EGP 24.7 million in the first half (H1) of 2020, versus net profits of EGP 80.07 million in the same period a year earlier, including minority shareholders’ rights.

The company’s revenues sank to EGP 335.8 million in the January-June period from EGP 676.019 million in the year-ago period, according to a bourse disclosure on Thursday.

As for standalone business, the Egyptian firm suffered net losses of EGP 6.48 million in H1-20, against net profits of EGP 76.14 million H1-19.

During the first quarter (Q1) of 2020, Porto Group Holding incurred net losses of EGP 16.34 million, compared to net profits of EGP 59.59 million in Q1-19.