Cairo – Mubasher: Emaar Misr for Development reported consolidated net profits of EGP 1.67 billion in 2020, down by 3.4% year-on-year (YoY) from EGP 1.73 billion, including minority shareholders’ rights. 

Revenues declined to EGP 4.68 billion last year from EGP 5.67 billion in 2019, the real estate developer said in a bourse disclosure on Sunday.

As for standalone business, the company posted net profits of EGP 1.67 billion in 2020, compared to EGP 1.73 billion a year earlier.

During the first nine months of 2020, Emaar Misr for Development recorded net profits of EGP 1.02 billion, up from EGP 628.99 million in the corresponding period in 2019, including minority shareholders’ rights.