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Emaar Misr’s net profits hike to EGP 2.22bn in Q1-23

Emaar Misr’s net profits hike to EGP 2.22bn in Q1-23
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Emaar Misr
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Cairo – Mubasher: The net profits after tax of Emaar Misr for Development grew to EGP 2.22 billion in the first quarter (Q1) of 2023, compared to EGP 1.58 billion in Q1-22.

The firm recorded a year-on-year (YoY) decline in revenue to EGP 1.86 billion during Q1-23 from EGP 2.57 billion, according to the income statements.

Basic and diluted earnings per share (EPS) stood at EGP 0.47 in the January-March 2023 period, versus EGP 0.32 in Q1-22.

Emaar Misr registered total assets amounting to EGP 77.96 billion in Q1-23, up from EGP 74.37 billion as of 31 December 2022.

Last year, the company logged net profit after tax valued at EGP 6.56 billion, higher than EGP 4.11 billion in 2021.