Pioneers Holding Says Net Profit 142.5% Up; H1

Pioneers Holding (PIOH.CA) has reported a net profit of EGP 162.537 million during the first half of 2012, 142.5% higher than a year earlier net profit of EGP 67.021 million.

Operation revenues hiked to EGP 706.657 million through H1/2012, compared to EGP 74.806 million for H1/2011. Gross profit – after excluding the cost of operations  – went up to EGP200.662 million, compared to EGP 72.732 million a year earlier.

Operating profits – after deducting the total expenses alongside adding the outcome of El Kahera Housing & Development’s acquisition   – rose to EGP 34.3 million. Accordingly, Total operating profits reached EGP 188.116 million during H1/2012, compared to EGP 54.694 million during H1/2011.

Working capital during H1/2012 climbed to EGP 1.827 million, compared to EGP 806.7 thousand during H1/2011.

Total investments increased to EGP 4.278 billion for H1/2012, compared to EGP 3.079 billion a year earlier.

Worth mentioning, Pioneers’ working capital is valued at EGP 2.5 billion distributed to 500 million securities in which the par value is EGP 5 per share.