Mohandes Insurance Egypt's consolidated profits surge 76% YoY in Q1 FY2023/24

Mohandes Insurance is an Egypt-based company that offers life and non-life insurance

Staff Writer, Arab Finance

December 4, 2023

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Mohandes Insurance’s (MOIN) consolidated net profits after tax and non-controlling interest rose by 75.8% year-on-year (YoY) during the first quarter (Q1) of fiscal year (FY) 2023/2024, according to a financial statement filed to the Egyptian Exchange (EGX) on December 3rd.

Net profits recorded EGP 64.769 million in Q1 this FY, up from EGP 36.845 million in Q1 of the previous FY.

The firm announced previously that its standalone net profits after tax climbed by 53.1% YoY to EGP 35.448 million during Q1 of FY 2023/2024 from EGP 23.16 million.

Mohandes Insurance is an Egypt-based company that offers life and non-life insurance, and reinsurance products and services. Its products and services portfolio fall into two main insurance segments, namely individual insurance and property insurance.

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