Thursday, 24 May 2018 01:13 GMT
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BPE sees 38.8 percent YOY decline in profits



(MENAFN) On Wednesday, BPE Holding For Financial Investments registered a 38.8% year-on-year decline in consolidated profits for the first quarter of 2018, hitting a net profit of EGP 33.5 million from EGP 54.84 million, including minority shareholders' rights.

Revenues fell to EGP 42.58 million in the three-month period finished last March, versus EGP 59.75 million in the prior-year period, the company said in a filing to the Egyptian Exchange (EGX).

Meanwhile, standalone profits shrank to EGP 4.7 million in Q1-18, from EGP 32.4 million in Q1-17.

BPE Holding had previously posted a 14.2% year-on-year drop in consolidated profits for the full-year 2017, recording EGP 131.6 million from EGP 153.4 million, including minority shareholders" rights.

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BPE sees 38.8 percent YOY decline in profits

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