Cairo – The net profits of Pioneers Holding Company for Financial Investment fell by 26.6% year-on-year (YoY) to EGP 800.9 million in the first half (H1) of 2020, compared to EGP 1.09 billion, including minority shareholders’ rights.

The company’s revenues shrank to EGP 3.57 billion in the January-June period from EGP 6.9 billion in the year-ago period, according to a bourse disclosure on Sunday.

In addition, the company logged standalone net profits of EGP 173.9 million in H1-20, against net losses of EGP 124.27 million in H1-19.

During the first three months of the year, Pioneers Holding’s net profits slid to EGP 271.27 million from EGP 456.79 million in the corresponding period a year earlier.

Source: Mubasher

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