Pioneers Holding records profit of LE1.22B in 2018

CAIRO – 25 March 2019: Pioneers Holding Company for Financial Investment (PIOH) recorded an increase of its annual consolidated profits in 2018 by 7.5 percent, reaching LE 1.22 billion, compared to LE 1.4 billion in 2017, including minority rights.

Pioneers’ financial indicators showed that the company’s revenues recorded LE 8.4 billion, compared to LE 8.23 billion in 2017.

As per standalone results, the company hit profits of LE 97.03 billion in 2018, compared to LE 73.34 billion in the prior year.

During the first nine months of 2018, the company accomplished profits of LE 97.03 million, compared to LE 73.34 million during the same period of the previous year.

Pioneers operates within the diversified financial sector focusing on investment banking and brokerage, with a capital of LE 3.6 billion, distributed over 708.4 million shares at a par value of LE 5 per share.

It has 34 subsidiaries operating across North America, North Africa and the Middle East. Pioneers Holding is based in Cairo, Egypt and was established in March 2007.