Cairo – Mubasher: Emaar Misr for Development on Sunday reported a 15% year-on-year rise in profits for the first quarter of 2018, recording a net profit of EGP 503.2 million from EGP 437.9 million.

Revenues grew to EGP 830.7 million in the three-month period ended last March, versus EGP 668.6 million in Q1-17, the real estate developer said in a filing to the Egyptian Exchange (EGX).

Emaar Misr had previously posted a net profit of EGP 2.3 billion for the full-year ended December 2017, compared to EGP 1.68 million a year earlier.

The company’s sale increased to EGP 4.5 billion last year from EGP 4 billion in 2016.