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Emaar Misr records EGP 6.8bn consolidated profit in 2023

Emaar Misr records EGP 6.8bn consolidated profit in 2023
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Emaar Misr
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Cairo – Mubasher: Emaar Misr for Development logged a consolidated net profit after tax of EGP 6.81 billion in 2023, versus EGP 6.56 billion a year earlier.

Consolidated revenues grew to EGP 15.09 billion last year from EGP 14.73 billion in 2022, according to the annual financial results.

The basic and diluted earnings per share (EPS) reached EGP 1.44 in the 12-month period that ended on 31 December 2023, up from EGP 1.39 the year before.

Standalone Profits

Emaar Misr’s standalone net profit after tax rose to EGP 6.78 billion last year from EGP 6.56 billion in 2022.

Standalone revenues increased to EGP 15.09 billion in 2023 from EGP 14.73 billion a year earlier.

Board Decisions

The company’s board of directors approved engaging in a credit facilities agreement to cover its financial requirements.

The board also ratified a proposal to add new branches and close one branch.

Emaar Misr posted a consolidated net profit of EGP 4.98 billion in the first nine months (9M) of 2023, up from EGP 4.89 billion in the comparative period of 2022.