Cairo – Mubasher: El Kahera Housing posted a 424.8% year-on-year hike in its profits during the first quarter of 2019.
The company’s net profits skyrocketed to EGP 103.17 million in the January-March period of 2019, compared to EGP 19.57 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.
Year-on-year, sales and revenues surged to EGP 452.66 million in the three-month period ended 31 March from EGP 300.184 million.
As for standalone business, the company’s profit went up 1.38% to EGP 13.791 million in Q1-19, compared to EGP 13.603 million in Q1-18.
For the full-year 2018, El Kahera Housing logged a net profit of EGP 426.2 million from EGP 73.4 million in the previous year, including minority shareholders’ rights.
Revenues grew to EGP 1.8 billion last year, compared to EGP 1.42 billion in 2017.
The company achieved standalone profits of EGP 50.9 million in 2018, against losses of EGP 26.5 million a year earlier.
