FILE - Porto
CAIRO – 13 April 2019: Porto Group Holding’s (PORT) consolidated profits decreased 12.4 percent in 2019, recording LE 116.88 million, compared to LE 133.58 million including minority rights in 2018.
The company’s revenues recorded LE 1.72 billion in 2019, compared to LE 1.6 billion during 2018, financial Indicators showed, revealing that cost of revenues recorded LE 1.28 billion in 2019, up from LE 1.11 billion in a prior year.
As per standalone results, the company turned into profitability by LE 72.144 million, compared to losses of LE 12.8 million in 2018.
During January-September period 2019, recorded profits of LE 91.3 million, compared to LE 115.8 million, including a minority rights, in the same period of 2018.
Financial Indicators of PORT consolidated results revealed a 50.9 percent hike in profits of the first half of 2019, recording LE 80.07 million, compared to LE 53.06 million including minority rights in the same half of 2018.
Porto Group operates within the real estate sector, focusing on diversified real estate activities. It has subsidiaries operating across Egypt, Syria and the British Virgin Islands.