ArabFinance: Mohandes Insurance Company reported a 3% Year on Year rise in its consolidated net profit in the fiscal year (FY) 2019/2020, according to the company’s September 13thfinancial statements filed to the Egyptian Exchange.

Consolidated net profit before minority interest stood at EGP 149,566,358 in FY 2019/2020, compared to EGP 144,960,259 achieved in FY 2018/2019.

Standalone net profit reached EGP 112,287,386 in FY 2019/2020, a 22% rise from EGP 92,217,949 posted in FY 2018/2019.

Mohandes Insurance increased the investment plan for FY 2020/2021 to EGP 870 million aiming to achieve a net return of investment of EGP 130 million.

In addition, the company targets a net profit of EGP 112.5 million in FY 2020/2021.

Mohandes Insurance is an Egypt-based public shareholding company engaged in the insurance sector. The company offers life and non-life insurance, and reinsurance products and services. Its products and services portfolio falls into two main insurance segments, namely individual insurance and property insurance.

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