Cairo – Mubasher: Egyptians for Housing and Development Co on Sunday posted a 42.8% year-on-year rise in consolidated profits for 2017.
Net profit stood at EGP 27.09 million last year, versus EGP 18.26 million in 2016, the company said in a filing to the Egyptian Exchange (EGX).
The financial indicators showed that the company achieved annual revenues of EGP 146.86 million, against EGP 150.24 million a year earlier.
The company attributed the growth in profits to operating expenses that retreated to EGP 98.7 million from EGP 108 million, while gross profit increased by EGP 6 million to EGP 48 million last year.
Meanwhile, standalone profits fell by EGP 1 million in 2017 to EGP 11.74 million, compared to EGP 12.48 million a year earlier.
