Cairo – Mubasher: The financial indicators of Heliopolis Company for Housing and Development on Thursday showed a 196% year-on-year hike in profits for the first quarter of fiscal year 2017/2018 due to higher revenues.
The real estate company’s profits amounted to EGP 77 million in the three months ended September, versus EGP 26 million in the prior-year period, the firm noted in a filing to the Egyptian Exchange (EGX).
Revenues jumped 153% to EGP 215 million in Q1 of FY17/18 from EGP 85 million in Q1 of FY16/17.
Heliopolis Housing had previously reported that it achieved EGP 348.8 million in FY16/17, compared to EGP 400.6 million in the previous fiscal year.
