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Cairo Investment’s profit leaps 43% in 9M on higher revenue

Cairo Investment’s profit leaps 43% in 9M on higher revenue
The company’s fiscal year begins on 1 September and ends on 31 August.

Cairo – Mubasher: The consolidated financial statements of Cairo for Investment and Real Estate Development showed a 42.68% year-on-year (YoY) rise in net profits to EGP 330.4 million during the nine-month period ended on 31 May, compared to EGP 231.56 million.

The company’s revenues surged to EGP 991.84 million from September 2019 to the end of last May, compared to EGP 642.39 million in the prior-year period, according to a bourse disclosure on Thursday.

As for standalone business, the company’s net profits increased to EGP 180.68 million in the nine-month period from EGP 147.62 million in the corresponding period a year earlier.

The company’s fiscal year begins on 1 September and ends on 31 August.

It is worth mentioning that during the first six months of the company’s fiscal year, Cairo Investment reported net profits of EGP 223.7 million, up from EGP 148.4 million in the prior-year period.