Egypt - Mohandes ins. targets EGP 112.5m profit in FY20/21
Friday, 05 22 2020, Category: Insurance and Reinsurance, Country: Egypt
Mohandes Insurance announced that its board of directors approved the company’s estimated budget scheme for fiscal year 2020/2021.
The insurer aims to register net profits of EGP 112.5 million in the coming fiscal year, according to a statement to the Egyptian Exchange (EGX) on Thursday.
The EGX-listed firm also plans to achieve direct premiums of EGP 566.5 million and increase its net investment portfolio to EGP 870 million.
It is noteworthy to mention that during the first half of FY19/20, the company’s net profits increased to EGP 72.36 million from EGP 63.09 million in the corresponding period a year earlier.