Cairo – Mubasher: Pioneers Holding Company for Financial Investment reported net profits of EGP 867.12 million during the first nine months of 2020, down by 29.6% year-on-year (YoY) from EGP 1.23 billion, including minority shareholders’ rights.

The company’s revenues fell to EGP 5.2 billion in the nine-month period ended 30 September from EGP 8.69 billion in the year-ago period, according to a bourse disclosure on Sunday.

As for standalone business, Pioneers Holding Company turned to net profits of EGP 153.59 million in the January-September period, versus net losses of EGP 120.97 million.

During the first half (H1) of 2020, the company reported net profits of EGP 800.9 million, down from EGP 1.09 billion in H1-19, including minority shareholders’ rights.