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Cairo Investment’s profit jumps 51% in 6M initial results

Cairo Investment’s profit jumps 51% in 6M initial results
Sales soared to EGP 666.4 million

Cairo – Mubasher: The unaudited consolidated financial results of Cairo for Investment and Real Estate Development showed a 50.7% year-on-year (YoY) surge in its net profits during the first half of the fiscal year ending on 31 August.

The company’s net profits hiked to EGP 223.7 million from September 2019 to last February, compared to EGP 148.4 million in the prior-year period, according to a statement to the Egyptian Exchange (EGX) on Thursday.

Sales soared to EGP 666.4 million in the six-month period ended 29 February from EGP 424 million in the corresponding period a year earlier.

As for standalone business, the EGX-listed firm’s net profits retreated to EGP 28.3 million in the said period from $35.5 million.