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CIRA logs EGP 246m profit in six months

CIRA logs EGP 246m profit in six months
The revenues reached EGP 758.82 million in six months

Cairo – Mubasher: The consolidated net profits of Cairo for Investment and Real Estate Development (CIRA) rose by 9.97% year-on-year (YoY) to EGP 246.05 million in the six-month period ended 28 February, compared to EGP 223.734 million, including minority shareholders’ rights.  

The revenues increased to EGP 758.82 million in the first half (H1) of the company’s fiscal year (FY), compared to EGP 666.47 million in the year-ago period, CIRA said in a bourse disclosure on Thursday.

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

The standalone financial results showed net profits of EGP 6.145 million in the six-month period ended 28 February, down from EGP 28.37 million in the corresponding period a year earlier.

During the September-November period of 2020, the company achieved net profits of EGP 118.6 million, up from EGP 105.86 million in the prior-year period.