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ElSaeed Contracting registers over EGP 54.5m consolidated profits in Q1-23

ElSaeed Contracting registers over EGP 54.5m consolidated profits in Q1-23
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Elsaeed Contracting
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Cairo – Mubasher: ElSaeed Contracting and Real Estate Investment Company generated EGP 54.67 million in consolidated net profit after tax during the first quarter (Q1) of 2023.

The registered profits were compared with EGP 35.87 million in Q1-22, including non-controlling equity.

Meanwhile, the revenues amounted to EGP 736.45 million as of 31 March 2023, an annual surge from EGP 487.64 million, according to the income statements.

Standalone Financial Results

ElSaeed Contracting recorded an annual hike in standalone net profit after tax to EGP 52.23 million during January-March 2023, versus EGP 35.91 million.

Non-consolidated revenues enlarged to EGP 727.93 million during Q1-23 from EGP 487.64 million in the year-ago period.

In the first three months (3M) of 2023, the basic earnings per share (EPS) went up to EGP 0.06 from EGP 0.04 in Q1-22.

Last year, the EGX-listed firm registered consolidated net profits after tax valued at EGP 104.01 million, a leap from EGP 80.98 million in 2021, including minority interest.