Cairo – Mubasher: United Company for Housing and Development reported a 28.7% year-on-year profit increase during the first half of 2019.

Net profits amounted to EGP 85.95 million in the six-month period ended 30 June, compared to EGP 66.78 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Year-on-year, sales rose to EGP 100.09 million in the January-June period of 2019 from EGP 99.06 million.

At the level of standalone business, the company’s net profits totalled EGP 84.64 million in H1-19, compared to EGP 66.26 million in H1-18.

During the second quarter of 2019, the EGX-listed firm logged a net profit of EGP 28.2 million, compared to EGP 18.37 million in Q2-18.

For the full-year 2018, the Egyptian firm’s net profits grew to EGP 104.86 million from EGP 94.97 million a year earlier, including minority shareholders’ rights.

Sales increased to EGP 165.1 million last year, compared to EGP 141.8 million in 2017.