ArabFinance: International Company for Leasing’s (Incolease) (ICLE) has reported a 156.8% year-on-year (Y-o-Y) increase in net profit after tax, reaching EGP 41.317 million during the first quarter (Q1) of 2022, up from EGP 16.085 million in the same period a year earlier, according to financial statements filed to the Egyptian Exchange (EGX) on Wednesday.

The company’s operating revenue grew to EGP 103.503 million in Q1-2022, from EGP 100.404 million in the comparative period last year.

Incolease is an Egypt-based company engaged in the provision of customer service and personalized financial solutions.

The company leases a range of assets, including commercial vehicles, machinery, information technology equipment, production lines, real estate, and other tangible and intangible long-term assets.