Cairo – Mubasher: Egypt-based Arab Contractors registered a 164% year-on-year jump in net profits for the fiscal year 2016/2017, the housing ministry said.
The Egyptian construction and contracting company generated a profit of EGP 532 million in FY16/17, compared to EGP 201 million a year earlier, according to the ministry's statement.
Arab Contractors’ business volume rose 13.68% to EGP 20.19 billion last year, up from EGP 17.76 billion in the previous fiscal year.
The Egyptian developer’s overseas business increased 13% or EGP 551 million to hit EGP 4.79 billion during FY16/17, up from EGP 4.24 billion in the year before.
