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Al Shams Housing’s profit falls to EGP 74m in H1

Al Shams Housing’s profit falls to EGP 74m in H1
Sales slid to EGP 108.6 million in H1
Al Shams Housing
ELSH
-1.84% 6.40 -0.12

Cairo – Mubasher: Al Shams Housing and Urbanization reported a 45.56% year-on-year profit decline during the first half of 2019.

Net profits plunged to EGP 73.90 million in the six-month period ended 30 June, compared to EGP 135.75 million in the corresponding period a year earlier, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Meanwhile, sales slid to EGP 108.6 million in H1-19 from EGP 200.3 million in H1-18.

During the first quarter of 2019, Al Shams Housing and Urbanization’s profit dropped to EGP 36.18 million, compared to EGP 74.19 million in the year-ago period.