Cairo – Mubasher: The consolidated financial results of Al Ahly for Development and Investment showed a 77% year-on-year (YoY) leap in its net profits during 2019.
The company’s net profits surged to EGP 14.98 million last year from EGP 8.46 million in 2018, including minority shareholders’ rights, according to a bourse disclosure on Tuesday.
Sales declined to EGP 129.43 million in 2019, compared to EGP 139.8 million in the prior year.
As for standalone business, the company turned to losses of EGP 4.54 million last year, against net profits of EGP 703,714 in 2018.
It is noteworthy to mention that during the January-September period of 2019, the company’s net profits inched down to EGP 11.26 million from EGP 11.8 million in the corresponding period a year earlier, including minority shareholders’ rights.
