Cairo – Mubasher: Emaar Misr for Development reported higher profits during the first quarter (Q1) of the year by 113.73%, as shown by the company’s financial results.

The company achieved a profit of EGP 529.12 million during the first three months of 2021, compared with EGP 247.56 million in Q1-20, according to a disclosure to the Egyptian Exchange (EGX).

During the same period, revenues increased to EGP 1.54 billion, up from EGP 242.21 million in the corresponding period of last year.

Meanwhile, standalone financial results showed quarterly profits of EGP 529.12 million in Q1-21, compared with EGP 247.56 million in Q1-20.

Last year, Emaar Mist reported a net profit of EGP 1.67 billion, compared with EGP 1.73 billion in the previous year.