Egypt’s state-run firms profits rise to $655.5 mln in FY18: ministry

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Egyptian public sector firms posted profits of 11.3 billion Egyptian pounds ($655.5 million) during the financial year 2017/2018 up from 7.4 billion pounds a year earlier, Public Business Sector Ministry said on Wednesday.

The firms’ revenues rose 20.8 percent to 102.5 billion pounds during the last financial year, according to a statement released on Wednesday.

The firms’ total exports surged 48 percent to 16.5 billion pounds during the financial year 2017/2018.