Cairo – Mubasher: Saudi Egyptian Investment and Finance on Tuesday posted a 91.7% year-on-year surge in its profits for the first quarter of 2019.
Net profits stood at EGP 10.45 million in Q1-19, compared to EGP 5.45 million in Q1-18, according to a filing to the Egyptian Exchange (EGX).
Saudi Egyptian Investment generated EGP 12.67 million in revenues during the first three months of 2019, against EGP 7.25 million in the same period of the prior year.
The company attributed the hike in Q1-19 profits to the general assembly’s approval to distribute EGP 5.5 million in coupons for 2018.
