Egyptian Takaful (Property) achieved investments of EGP 230 million in the first nine months of the current FY 2011/2012.
El-Sayed El-Bayoumi, head of investment and stock exchange expert at the company, said the company achieved the year’s targeted volume of investments before the beginning of the fourth quarter. However, El-Bayoumi expected the growth of investments to decline in the fourth quarter, as the new investments will achieve returns later.
The company is expected to achieve investments of EGP 240 million by the end of FY 2011/2012. These investments achieved returns of EGP 16.5 million in the first nine months of FY 2011/2012, and are expected to register returns of EGP 17 million by the end of the current fiscal year.
It is worth mentioning that the company achieved investments of EGP 157 million in the last FY 2010/2011.