Cairo – Mubasher: Porto Group Holding has achieved consolidated net profits of EGP 18.85 million during the first quarter (Q1) of 2021, against net losses of EGP 16.34 million in the same period of 2020.

The company generated revenues of EGP 318.16 million in the January-March period of 2021, up from EGP 206.38 million in the corresponding period of 2020, according to a bourse filing on Monday.

The basic earnings per share (EPS) settled at EGP 0.02 in Q1-21, versus a loss per share of EGP 0.01 in Q1-20.

As for the standalone financials, the group's net losses increased to EGP 5.75 million in the first three months of 2021 from EGP 2.38 million in the year-ago period.

It is noteworthy to mention that in 2020, the group's consolidated net profits plummeted by 76% year-on-year (YoY) to EGP 25 million, compared to EGP 104.25 million.