Egypt’s property developer Heliopolis Company for Housing and Development posted a rise by 38% in net profit for Q1-14/15 to EGP 91.2 million, compared with EGP 66.1 million in the year-ago period.
The company’s financial results for the fiscal year that ended on June 30, 2014 had shown EGP 183.860 million net profit, with 36% growth compared with EGP 135.532 million a year earlier. H1-13/14 profit had netted EGP 65.5 million, with a jump by 69.3% y/y from EGP 38.69 million.
The company is seeking to double its capital that currently stands at EGP 111.257 million.