Egypt - Mohandes Insurance’s profit edges up in FY19/20 initial results
Friday, 09 04 2020, Category: Insurance and Reinsurance, Country: Egypt
The financial indicators of Mohandes Insurance showed net profits of EGP 149.56 million during fiscal year 2019/2020, up by 3.2% year-on-year (YoY) from EGP 144.96 million, including minority shareholders’ rights.
The insurer’s insurance activity surplus rose to EGP 182.41 million in the year ended 30 June, compared to EGP 180.68 million a year earlier, according to a bourse disclosure on Thursday.
As for standalone business, the company recorded net profits of EGP 112.28 million n FY19/20, up from EGP 92.21 million in FY18/19.
During the first nine months of FY19/20, Mohandes Insurance achieved net profits of EGP 111.98 million, up from EGP 101.44 million in the year-ago period.