Cairo – Mubasher: The unaudited consolidated net profits of Nile City Investments plummeted by 95% year-on-year (YoY) to EGP 35.3 million in 2020, compared to EGP 598.67 million in 2019.

The company’s revenues fell by 55% to EGP 533.409 million last year from EGP 1.186 billion in 2019, according to a bourse disclosure on Wednesday.

As for standalone business, the company logged EGP 51.612 million in net profits in 2020, down by 81.95% YoY from EGP 285.844 million.