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CIRA's profit rises 12% in three months

CIRA's profit rises 12% in three months
The company’s fiscal year begins on 1 September and ends on 31 August.

Cairo – Mubasher: Cairo for Investment and Real Estate Development (CIRA) reported net profits of EGP 118.6 million during the three-month period ended 30 November 2020, up by 12.03% year-on-year (YoY) from EGP 105.86 million.

The company’s revenues increased to EGP 370 million in the September-November period, compared to EGP 313.12 million in the corresponding period a year earlier, according to a bourse disclosure on Thursday.

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

As for standalone business, the company turned to net losses of EGP 7.76 million in the first three months of the company's fiscal year, against net profits of EGP 10.66 million in the prior-year period.

During the nine-month period ended 31 May 2020, CIRA logged net profits of EGP 330.4 million, compared to EGP 231.56 million in the same period a year earlier.