Cairo – Mubasher: Heliopolis Company for Housing and Development on Monday reported a 55% year-on-year decline in profits for the first half of fiscal year 2017/2018.
Net profit reached EGP 59.2 million in the six-month period ended December 2017, from EGP 132.2 million in the corresponding period of 2016, the company highlighted in a filing to the Egyptian Exchange (EGX).
Revenues climbed to EGP 309.7 million in H1-17/18 from EGP 294.1 million in H1-16/17.
Given that Heliopolis Housing had achieved profits of EGP 348.8 million in FY16/17, versus EGP 400.6 million in FY15/16.
