Earnings Watch: Arafa Holding reports a 137% y-o-y increase in profits to USD 7.7 mn

EARNINGS WATCH- Arafa Holding reported a 137% y-o-y increase in consolidated net profits to reach USD 7.7 mn in 1H2019-20 (Arafa Holding’s fiscal year begins in February), up from a net profit of USD 3.2 mn in the same period in 2018-19, the company said in a statement to the EGX (pdf). Revenues for the period declined to USD 104.3 mn, down from USD 117.9 mn in 1H2018-19.