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Tameer achieves 64% growth in sales, profits in 2018

Tameer Engineering Consultants has achieved a growth rate of 64% in its sales and profits for 2018, totalling EGP 742m, compared to EGP 453m in 2017, according to its Chairperson, Saad Al Wazzan. The company said in press statement on Thursday that it has achieved a consolidated profit of EGP 331m before cutting a minority …

Shaimaa Al-Aees

Africa Finance Corporation achieves $100.3m net profit in 2017

The Africa Finance Corporation (AFC), one of Africa’s leading infrastructure multilateral development finance institutions, announced it achieved $100.3m net profits in 2017, according to the financial year results published on Sunday.  The results indicate that the AFC’s total comprehensive income registered at $109.2m in 2017, while their total assets registered at $4.2bn, achieving a 21% …

Daily News Egypt

Recently opened factory will increase Q4 profits: managing director of MBEN

Ahmed Bahaa, managing director of MB for Engineering and Contracting (MBEN), and member of the Egyptian Exchange’s board, revealed that setting up the company’s recently opened factory in Sixth of October city is expected to lead to a hike in profits throughout the fourth quarter (Q4) of 2017. “The company’s financials in terms of revenues …

Noha Abd ElRahman

CIB profits EGP5.7bn in 9 months 

Commercial International Bank (CIB) posted a record profit of EGP 2.1bn in the third quarter (Q3) of 2017, up 23% year over year (YOY), according to the bank. Its revenues rose by 45% during Q3 of 2017 compared to the same period last year, reaching about EGP 4.2bn. During the first nine months of this …

Daily News Egypt

Raya Telecom profits jump by 311.4% over 6 months

Raya Telecommunications Services (RTA), one of the companies owned by Raya Systems, saw its profits jump by 311.4% during the first half of 2017, compared to the same period last year. The company said in a report to the Egyptian Exchange (EGX) on Monday that the company’s profits amounted to EGP 81.4m during the first …

Daily News Egypt