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Emaar Misr for Development's profit soars 62% in 9M

Emaar Misr for Development's profit soars 62% in 9M
Revenues retreated to EGP 2.27 billion
Emaar Misr
EMFD
0.38% 2.61 0.01

Cairo – Mubasher: Emaar Misr for Development registered a 62% year-on-year (YoY) leap in its net profits, logging EGP 1.02 billion in the first nine months of 2020, compared to EGP 628.99 million, including minority shareholders’ rights.

Revenues retreated to EGP 2.27 billion in the nine-month period ended 30 September from EGP 2.34 billion in the same period in 2019, the company said in a bourse disclosure on Sunday.

The standalone financial statements showed net profits of EGP 1.02 billion in the January-September period, up from EGP 628.99 million in the year-ago period.

During the first half (H1) of 2020, the company reported net profits of EGP 581.53 million, up from EGP 94.29 million in the same period in 2019.