Pioneers Q2 net profit jumps

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CAIRO: Egyptian investment bank Pioneers Holding made a net profit of LE 30.5 million ($5.1 million) in the second quarter of 2011, up from LE 10.1 million a year earlier, it said in a statement.

Revenues grew to LE 45.5 million from LE 27.9 million, the bank said.

In a statement sent to the stock exchange, it attributed the improved results to gains on investment sales and an upward revision of the value of some investments.


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