Cairo – Mubasher: Pioneers Holding Company recorded a 10.5% increase in the consolidated profit after tax to EGP 299.66 million during the first quarter (Q1) of 2021, compared to EGP 271.27 million in Q1-20, including minority interest.

Earnings per share stood at EGP 0.25 in Q1-21, compared to EGP 0.26 in Q1-20, according to a bourse disclosure to the Egyptian Exchange (EGX) on Monday.

Revenues amounted to EGP 2.04 billion in Q1-21, higher by 18% than EGP 1.73 billion in Q1-20.

As for the standalone income statements, Pioneers Holding posted a plunge of 96.5% in profits after tax to EGP 4.13 million in the first three months of 2021 from EGP 118.46 million in the same period a year earlier.

Earnings per share reached EGP 0.004 in Q1-21, compared with EGP 0.114 in Q1-20.

In 2020, the company’s profits after tax fell to EGP 1.08 billion from EGP 1.35 billion in 2019, including minority shareholders’ rights.