The net profits of Nile City Investment company rose by 25.8% year-on-year during the first nine months of 2018, according to the company’s financial statements.
The consolidated net profits totalled EGP 485.78 million in the January-September 2018 period, compared to EGP 385.93 million in the corresponding period in 2017, including minority shareholders’ rights, Nile City Investment disclosed to the Egyptian Exchange (EGX) on Wednesday.
The company’s standalone profits declined to EGP 247.31 million in the January-September 2018 period from EGP 385.88 million in the corresponding period in 2017.
It is worth mentioning that in fiscal year 2017, Nile City Investment’s profits soared to EGP 489.03 million from EGP 422.6 million in 2016.
Meanwhile, revenues surged to EGP 1.03 billion in 2017 from EGP 673.26 million in 2016.