Egypt’s Porto Group reports 109% surge in 2017 net profit

Egypt-based property developer Porto Group announced Monday that its net profit after calculating taxes increased by 109 percent, registering 246 million Egyptian pounds ($14 million) during 2017.

Earlier, net profit stood at 118 million pounds during 2016.

Net revenues jumped by 1.177 percent to 2.384 billion pounds last year, compared with 1.207 billion pounds a year earlier.