Cairo – Mubasher: The consolidated financial statements of Egyptians for Housing and Development Co. has shown a 77.31% year-on-year increase in the company’s profit during the first nine months of 2019, recording EGP 28.74 million.

Operational costs declined to around EGP 12 million in the nine-month period ended 30 September, compared to EGP 14.2 million in the year-ago period, according to a statement released on Thursday.

As for standalone results, Egyptians for Housing’s profit soared to EGP 9.47 million in the first nine months of the year, from EGP 792,734 a year earlier.

It is noteworthy that the EGX-listed company’s net profit rose to EGP 21.79 million in the six-month period ended 30 June from EGP 11.42 million in the year-ago period.