Cairo – Mubasher: The unaudited financial results of Heliopolis Company for Housing and Development posted a 237.4% year-on-year profit hike during the first quarter of fiscal year 2019/2020 on the back of growing revenues.

Net profits surged to EGP 29.39 million in the July-September period from EGP 8.7 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.

Meanwhile, the company’s revenues rose to EGP 248 million in Q1 of FY19/20, compared to EGP 193.8 million in the same period of FY18/19.