Cairo – Mubasher: Nasr Company for Civil Works reported an 81% year-on-year decline in profit during the first nine months of 2019.

The profits amounted to EGP 11.4 million during the period from January to September 2019, down from EGP 61.2 million a year earlier, according to a bourse statement on Wednesday.

Revenues plunged to EGP 164.8 million in the nine-month period in 2019 when compared to EGP 254.8 million in the corresponding period in 2018.

It is worth noting that over the first half of 2019, Nasr for Civil Works’ profit dropped sharply to EGP 9.45 million from EGP 50.36 million in H1-18.