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ElSaeed Contracting reports EGP 119m consolidated net profit in 2023; dividends proposed

ElSaeed Contracting reports EGP 119m consolidated net profit in 2023; dividends proposed
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Elsaeed Contracting
UEGC
1.44% 0.70 0.01

Cairo – Mubasher: ElSaeed Contracting and Real Estate Investment Company posted a consolidated net profit after income tax of EGP 119.08 million in 2023 from EGP 104.01 million last year.

Operations revenue increased to EGP 2.69 billion last year from EGP 2.64 billion in 2022, according to the annual financial results.

Standalone Profit

The standalone net profit after income tax inched higher to EGP 101.26 million in 2023 from EGP 100.74 million the year before.

Standalone operations revenue rose to EGP 2.61 billion last year from EGP 2.60 billion in 2022.

The earnings per share (EPS) reached EGP 0.118 in the 12-month period that ended on 31 December 2023, versus EGP 0.115.

Cash dividends

ElSaeed Contracting’s board of directors approved the EPS statement which included EGP 85.67 million of net profit distributable to ordinary shareholders for 2023.

The EGX-listed company registered EGP 102.68 million in consolidated net profit after tax during the first nine months (9M) of 2023.