Egypt's pioneers Q2 net profit jumps

Egyptian investment bank Pioneers Holding made a net profit of 30.5 million Egyptian pounds in the second quarter of 2011, up from 10.1 million pounds a year earlier, it said in a statement. Revenues grew to 45.5 million pounds from 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 revisions of the value of some investments.