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Porto Group Holding turns profitable in nine months

Porto Group Holding turns profitable in nine months
The revenues surged to EGP 1.01 billion in the January-September period
Porto Group
PORT
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Cairo – Mubasher: Porto Group Holding turned to consolidated net profits of EGP 90.97 million in the first nine months of 2021, versus net losses of EGP 8.62 million in the corresponding period a year earlier, including minority shareholders' rights.

The revenues surged to EGP 1.01 billion in the January-September period, compared to EGP 668.19 million in the year-ago period, according to a bourse disclosure on Sunday. 

Meanwhile, the standalone net losses widened to EGP 19.52 million in the nine-month period ended 30 September from EGP 10.93 million in the same period in 2020. 

In the first half (H1) of 2021, the company logged consolidated net profits of EGP 71.79 million, against net losses of EGP 24.7 million in H1-20, including minority shareholders' rights.