Egypt - Mohandes Ins. showed a 12.95% profit growth in 2019
Tuesday, 10 15 2019, Category: Insurance and Reinsurance, Country: Egypt
The unaudited adjusted consolidated financial results of Mohandes Insurance showed a 12.95% year-on-year profit growth during fiscal year 2018/2019.
The insurer logged a net profit of EGP 144.96 million in the twelve-month period ended 30 June, compared to EGP 128.33 million in FY17/18, including minority shareholders’ rights, according to a statement to the Egyptian Exchange (EGX) on Monday.
An amount of EGP 10 million has been added to the provision for contingencies, the statement added.
In the meantime, revenues grew to EGP 180.68 million in FY18/19 from EGP 144.54 million in the prior fiscal year.