Cairo – Mubasher: The unaudited financial results of Marseilia Almasreia Alkhalegeya Real Estate Investment showed a 387% year-on-year profit surge during the first nine months of 2019.

Net profits grew to EGP 7.18 million in the January-September period of 2019, compared to EGP 1.476 million in the year-ago period, the real estate developer said in a statement to the Egyptian Exchange (EGX) on Monday.

Meanwhile, sales skyrocketed to EGP 364 million in the nine-month period ended 30 September from EGP 136 million in the corresponding period a year earlier.

It is worth mentioning that during the first half of 2019, the property developer logged a net profit of EGP 3.31 million, compared to EGP 1.16 million in H1-18.