Egypt - Delta Ins. profit soars 48% in FY18/19
Wednesday, 08 14 2019, Category: Insurance and Reinsurance, Country: Egypt
Delta Insurance recorded a 48.3% year-on-year profit surge during fiscal year 2018/2019.
The insurer’s net profits amounted to EGP 135.79 million in the twelve-month period ended 30 June, compared to EGP 91.55 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Thursday.
Meanwhile, revenues rose by 35.29% to EGP 158.92 million from July 2018 to last June, compared to EGP 117.47 million in the year-ago period.
At the level of standalone business, Delta Insurance logged a profit of EGP 88.233 million in FY18/19, up from EGP 64.352 million in FY17/18.
During the first nine months of FY18/19, the EGX-listed firm posted a net profit of EGP 93.98 million, compared to EGP 66.4 million in the year-ago period.
Revenue hiked to EGP 453.49 million in the nine-month period ended 31 March from EGP 366.28 million in the prior-year period.