Pioneers Holding records profit of LE456.8M in Q1 2019

CAIRO – 23 June 2019: Pioneers Holding Company for Financial Investment (PIOH) recorded an increase of its consolidated profits during the first quarter of 2019 by 22.9 percent, reaching LE 456.79 million, compared to LE 371.67 million in the same quarter of 2017, including minority rights.

Pioneers’ financial indicators showed that the company’s revenues recorded LE 2.5 billion, compared to LE 1.82 million during the same period of 2017.

As per standalone results, the company hit profits of LE 3.35 million in 2018, compared to LE 5.73 billion in the prior year, with a decrease of 41.42 percent.

Pioneers Holding Company 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 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.