Cairo – Mubasher: Elsaeed Contracting and Real Estate Investment Company posted a 44% year-on-year drop in profits for the first half of 2017 due to higher earnings, according to a bourse filing on Tuesday.
Consolidated profits reached EGP 27.08 million in the six months ended June 2017, versus EGP 48.56 million in the corresponding period of the year before.
Revenues from operations rose to EGP 415 million in H1-17 from EGP 386.9 million in H1-16.
Standalone profits declined to EGP 27.03 million in H1-17, compared to EGP 48.54 million in H1-16.
Elsaeed Contracting achieved profits of EGP 22.08 million in the three months ended March 2017, down from EGP 36.51 million in the same period of 2016.
