Cairo – Mubasher: The standalone financial statements of Modern Waterproofing (Bitumode) reported a 126.32% year-on-year profit surge during the first nine months of 2019.
Net profits grew to EGP 43.29 million in the nine-month period ended 30 September from EGP 19.13 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.
Meanwhile, net sales hiked to EGP 315.598 million in the January-September period, compared to EGP 265.25 million in the corresponding period a year earlier.
It is noteworthy that during the first half of 2019, Bitumode logged a consolidated net profit of EGP31.25 million, down from EGP5.11 million in H1-18.
