Cairo bourse: 135 out of 177 listed firms proven profitable in H1

Around 135 companies listed in Cairo bourse have posted first half profits totalling 14.5 billion Egyptian pounds (US$1.85 billion), the stock market management announced Monday.

On the other hand, 39 listed companies have incurred losses totalling 570 million pounds during the first half of 2015.

During the first half of 2014, there were nearly 147 listed firms achieved profits totalling 12.4 billion pounds, by contrast, 27 companies had encountered losses estimated at 544 million pounds.

The listed companies’ first half net profits have jumped 17 percent to 14 billion pounds, compared to around 11.9 billion pounds a year earlier.

From his part, Mohamed Omran – Chairman of the Egyptian Exchange (EGX) said the first half gains signal the improvement in the listed firms’ financial position.