Cairo – Mubasher: Arab Moltaqa Investments reported a 226% surge in profits during the first quarter (Q1) of the year, as shown by the consolidated financial results.

Quarterly profits reached EGP 72.44 million, compared with EGP 22.21 million in Q1-20, according to the company’s disclosure to the Egyptian Exchange (EGX).

Standalone financial statements showed profits reached EGP 17.83 million in the first three months of 2021, compared with about 774,970 in the corresponding period of last year.

Revenues rose to EGP 27.66 million, up from EGP 6.97 million in Q1-20.