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ElSaeed Contracting's profits surge to EGP 97m in 9M-22

ElSaeed Contracting's profits surge to EGP 97m in 9M-22
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Elsaeed Contracting
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Cairo – Mubasher: The net profits of ElSaeed Contracting and Real Estate Investment Company amounted to EGP 97.27 million during the first nine months (9M) of 2022, compared to EGP 67.03 million in the corresponding period in 2021. 

The company’s revenues skyrocketed to EGP 1.86 billion during 9M-22, compared to EGP 1.01 billion in 9M-21, according to a bourse filing on Sunday.

As for the standalone results, the company gained higher profits of EGP 95.08 million in the January-September 2022 period, compared to EGP 67.08 million in the year-ago period.

During this year’s third quarter (Q3), the company turned to net profits of EGP 15.47 million, against net losses of EGP 6.68 million in Q3-21. Revenues of the EGX-listed company reached EGP 816.24 million during Q3-22, a surge from EGP 298.16 million in Q3-21.

In the first half (H1) of 2022, net profits of ElSaeed Contracting totalled EGP 81.80 million, up from EGP 73.71 million in the same period a year earlier.

Revenues of the EGX-listed company soared to EGP 1.04 billion during H1-22, compared to EGP 718.16 million in H1-21.