Cairo – Mubasher: Egyptian Media Production City Co on Sunday announced it has achieved a net consolidated profit of EGP 27.24 million in the first quarter of 2019, up 17.09% year-on-year from EGP 23.27 million.
Revenue surged to EGP 103.47 million at the end of March, versus EGP 96.54 million in Q1-18, the company said in a statement to the Egyptian Exchange (EGX).
The increase in Q1-19 profits was mainly driven by a decrease of EGP 303 million in consumption expenses related to assets and technical works, as well as an increase of EGP 301 million in banks’ interests and an increase of EGP 406 million in revenue from studios and locations, the firm said.
In 2018, Egyptian Media Production recorded a net consolidated profit of EGP 93.4 million, versus EGP 54.7 million a year ago.
