Cairo – Mubasher: Elsaeed Contracting and Real Estate Investment Company (SCCD) reported a 73% year-on-year profit surge during the first half of 2019 on the back of higher revenues, the company’s consolidated financial results showed.
Net profits amounted to EGP 34.69 million during the six-month period ended 30 June, compared to EGP 20.07 million in the year-ago period, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.
The company’s activity revenues grew to EGP 374.5 million in the January-June period of 2019 from EGP 334.22 million in the corresponding period a year earlier.
At the level of standalone business, the EGX-listed firm logged a profit of EGP 35 million in H1-19, compared to EGP 20 million in H1-18.
During the second quarter of 2019, the company’s profit retreated to EGP 2.59 million from EGP 6.5 million in the prior-year period.
In Q1-19, the company reported net profits of EGP 32.11 million, compared to EGP 13.54 million in Q1-18.
