Al-Zayat added in a statement to the Egyptian Exchange (EGX) that the new investments include $ 100 million to buy minority stakes in the subsidiary company, in addition to acquisitions and the establishment of new economic entities. The managing director of the company indicated that investments also include $ 200 million in completing existing investment projects and establishing new investment projects. The company achieved a net profit during 2020, amounting to $116.296 million, compared to $115.601 million during 2019, taking into account the minority rights. The net profit of the owners of the parent company was about $ 116.3 million in 2020, compared to $ 115.6 million in 2019. The revenues increased during 2020 to reach $557.89 million, compared to $523.941 million during the previous year.

Source: The North Africa Journal March 24, 2021 15:11 UTC