Egypt Mohandes Insurance’s standalone assets 6% up end-Sept.

Egyptian Mohandes Insurance posted a 6 percent year-on-year growth in its standalone assets at the end of the first quarter of the 2019/2020 financial year, official sources said on Tuesday.

Standalone assets recorded 1.06 billion Egyptian pounds ($66 million), up from 996.3 million pounds at the end of the first quarter of the 2018/2019 financial year, the sources further told Amwal Al Ghad.

“Our net fixed assets reached around 18.9 million pounds at the end of the first quarter of the current financial year against 19.2 million pounds during the same period last year, they said.

Shareholders’ total equities rose to 349.8 million pounds versus about 319.7 million pounds at the end of the first quarter of the 2018/2019 financial year, the sources added.

The company’s liabilities totalled around 666.3 million pounds during the first quarter of the current financial year from 676.5 million pounds last year, marking a 1.5 percent decline, the sources said.