Cairo – Mubasher: The consolidated net profits of Porto Group Holding plummeted by 76% year-on-year (YoY) to EGP 25 million in 2020, compared to EGP 104.25 million.

Revenues retreated to EGP 863.39 million last year, compared to EGP 1.737 billion in 2019, the company said in a bourse disclosure on Sunday.

As for standalone business, the company turned to net losses of EGP 17.72 million in 2020, versus net profits of EGP 72.144 million a year earlier.

During the first nine months of 2020, Porto Group Holding suffered net losses of EGP 8.62 million, against net profits of EGP 91.34 million in the corresponding period a year earlier, including minority shareholders’ rights.