Cairo- Mubasher: The consolidated financial statements of the Real Estate Egyptian Consortium showed a 358.6% year-on-year profit hike during the first half of 2019.

Year-on-year, the net profits surged to EGP 24.63 million during the six months period ended June 2019 from EGP 5.37 million, the company said in a filing to the Egyptian Exchange (EGX) on Tuesday.

Revenues soared to EGP 69.78 million during H1-19 from EGP 6.9 million in H1-18.  

As for the standalone financials, the company’s profits rose to EGP 24.63 million in H1-19 from EGP 5.37 million in H1-18.

It is worth pinpointing that during the first quarter of 2019, the company’s net profits hiked to EGP 6.73 million, when compared to EGP 2.33 million in Q1-18.