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Arab Moltaka Investments records 10% profit decline

Arab Moltaka Investments records 10% profit decline

ArabFinanceArab Moltaka Investments Company (AMIC) revealed its consolidated net profit fell 10% Year on Year in the first nine months of 2020, according to the company’s November 12th financial statements filed to the Egyptian Exchange.

Consolidated net profit before minority interest stood at EGP 43,049,832 in January-September 2020, compared to EGP 48,035,271 achieved in the corresponding period a year earlier.

Standalone net profit reached EGP 10,311,251 in the nine-September period of 2020, a 63% rise from EGP 28,218,489 posted in the prior-year months.

The company earlier sold more than 14.32 million shares in Arab Engineering Industries at a value of EGP 1.07 per each.

AMIC invests in a diversified range of economic sectors covering a broad spectrum including industrial and agricultural investments, land reclamation and cultivation, livestock development, fisheries, real estate investments, and tourism.

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