Cairo – Mubasher: Emaar Misr for Development posted a 23% year-on-year rise in profits for the second quarter of 2017 due to higher financial income, according to a bourse filing on Wednesday.
The firm achieved profits of EGP 539.03 million in the three months ended June 2017 from EGP 436.78 million in the same period of the year before.
Financial income grew to EGP 329.9 million in Q2-17 from EGP 121.38 million in Q2-16.
Revenues declined to EGP 1.08 billion in Q2-17, versus EGP 1.18 billion in Q2-16.
In the first half of 2017, net profits increased to EGP 976.9 million, compared to EGP 691.2 million in H1-16.
Emaar Misr achieved profits of EGP 437.9 million in the three months ended March 2017 from EGP 254.48 million in the corresponding period of 2016.
