Sunday 02/28/2021 11:23:00 AM
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ArabFinance: The board of directors of Porto Group Holding (PORT) approved rebranding as Porto Developments in light of restructuring its administrative and executive roles, the company said in a statement to the Egyptian Exchange on February 28
th.
The board also approved establishing a new company in conjunction with Prime Group and UAE’s International Holdings (ASMAK) among others.
The company’s consolidated net profit stood at EGP 25 million in 2020, 76% lower when compared to EGP 104.25 million in 2019.
Porto is an Egypt-based holding company engaged in many segments through its subsidiaries, namely education, marketing, real estate, investment, and management.