Egypt - Mohandes Ins. net profits up 16% in H1 FY19/20
Wednesday, 02 05 2020, Category: Insurance and Reinsurance, Country: Egypt
Mohandes Insurance saw a 16% year-on-year (YoY) increase in net profits to EGP 72 million during the first half of fiscal year 2019/2020, compared to EGP 62.04 million during the same six months of the prior fiscal year.
Insurance activity surplus rose to EGP 57.69 million during the July-December period in FY19/20 from EGP 45.8 million during the same prior-year period, according to the company’s standalone financial statements disclosed to the Egyptian Exchange (EGX) on Tuesday.
It is noteworthy to mention that during the current fiscal year’s first quarter ended on 30 September, the standalone profits reached EGP 30 million, down from EGP 53.11 million in the same period of the earlier year.