Pioneers Holding posts LE 106M profits in H1

CAIRO – 21 August 2017: Pioneers Holding Company for Financial Investments achieved a standalone net profit of LE 106.2 million ($5.9 million) in the first half (H1) of 2017 compared to LE 71.1 million in the same period of the previous year, a Monday statement said.

Net revenues reached LE 4 million in the first six months of this year, up from LE 2.6 million in the same period of the previous year, according to the Egyptian Exchange (EGX) filing.

General and administrative expenses hit LE 18.5 million in H1 of 2017, after registering LE 15.6 million in H1 of 2016.

As for the second quarter (Q2) of the year, the company achieved LE 32 million profits compared to LE 18.6 million in the second quarter of 2016.

Revenues stood at LE 1.56 million in Q2 of 2017, up from LE 1.14 million in Q2 of 2016.