Egypt - Delta Ins. indicators show 35% profit growth in FY19/20
Tuesday, 09 01 2020, Category: Insurance and Reinsurance, Country: Egypt
The financial indicators of Delta Insurance posted a 35.57% year-on-year (YoY) increase in its net profits, logging EGP 183.56 million in fiscal year 2019/2020, compared to EGP 135.79 million.
The insurer ascribed the rise in net profits to the improved insurance results and the increase in net income from investments, according to a bourse disclosure on Monday.
Total revenues grew to EGP 754.45 million in the year ended 30 June from EGP 592.74 million a year earlier.
As for standalone business, the company’s net profits went up to EGP 109.4 million in FY19/20, compared to EGP 88.23 million in the prior year.
During the first nine months of FY19/20, the insurer’s net profits surged to EGP 128.99 million from EGP 93.98 million in the corresponding period a year earlier.