Cairo – Mubasher: United Company for Housing and Development achieved net profits of EGP 103.22 million in the first nine months of 2020, down by 18.9% year-on-year (YoY) from EGP 127.39 million, including minority shareholders’ rights.

The company’s sales fell to EGP 182.37 million in the January-September period from EGP 131.17 million in the year-ago period, according to a bourse disclosure on Tuesday.

As for standalone business, the company’s net profits slumped to EGP 93.52 million in the nine-month period ended 30 September from EGP 114.87 million in the same period in 2019.

During the first half (H1) of 2020, United Company for Housing and Development recorded net profits of EGP 70.23 million, down from EGP 85.95 million in H1-19, including minority shareholders’ rights.