Cairo – Mubasher: Emaar Misr for Development on Tuesday reported a 20.8% year-on-year increase in consolidated profits for the first nine months of 2018.
Net profit totalled EGP 1.75 billion in the period between January and September, up from EGP 1.45 billion, including minority shareholders’ rights, the property developer said in a filing to the Egyptian Exchange (EGX).
Revenues rose slightly to EGP 2.8 billion in the nine-month period ended September, versus EGP 2.59 million in the same period of 2017.
Meanwhile, standalone profits grew to EGP 1.759 billion at the end of September, compared to EGP 1.456 billion in the first nine months last year.
Emaar Misr previously said it achieved profits of EGP 1.1 billion in the first half of 2018, up 12.6% from, versus EGP 976.9 million in the prior-year period.
