Nile City Investment posts 8% profit growth in 2018

Nile City Investment showed a 7.83% year-on-year net profit increase during 2018.

  

Cairo – Mubasher: The consolidated financial statements of Nile City Investment showed a 7.83% year-on-year net profit increase during 2018.

Net profits rose to EGP 527.35 million during the twelve-month period ended 31 December, compared to EGP 489.04 million a year earlier, including minority shareholders rights, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.

In the meantime, the company generated EGP 1.153 billion in revenue in 2018, up from EGP 1.03 billion in the prior year.

As for standalone financials, the EGX-listed firm’s net profits declined to EGP 228.977 million last year, compared to EGP 229.248 million in 2017.

It is worth mentioning that during the first nine months of 2019, Nile City Investment logged a net profit of EGP 485.78 million, up from EGP 385.93 million in the year-ago period, including minority shareholders’ rights.

Source: Mubasher

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