Cairo – Mubasher: Emaar Misr for Development on Tuesday reported an 11% year-on-year rise in consolidated profits for the second quarter of 2018, recording a net profit of EGP 597 million from EGP 597 million.

In the first half of 2018, net profit increased by 12.6% to EGP 1.1 billion, versus EGP 976.9 million in the prior-year period, the property developer said in a filing to the Egyptian Exchange (EGX).

Revenues stood at EGP 1.752 billion in the six-month period ended June, versus EGP 1.758 million in H1-17.

Meanwhile, standalone profits amounted to EGP 1.1 billion at the end of June, compared to EGP 976.94 million in H1-17.

Emaar Misr previously posted a 15% year-on-year rise in profits for the first quarter of 2018, logging a net profit of EGP 503.2 million from EGP 437.9 million.