Cairo – Mubasher: Heliopolis Company for Housing and Development posted a decline in its profits for the third quarter of 2015/16 by 65.4% year-over-year to EGP22.26 million ($2.5 million) from EGP64.39 million ($7.23 million).
In the nine-month period ended last March, the company registered a net profit of EGP280.46 million, 82.5% up from EGP153.69 for the year-ago period.
Today, the Egyptian Exchange suspended trading on the company’s stock till the disclosure of B o D reports, which include Helioplis’ financial results.
In the first half of 2015, the company’s net profit after tax stood at EGP258.2 million, compared to EGP89.3 million a year earlier.
At 1:00pm Cairo time, the stock quote rose by 1.95% to EGP53.97 on Tuesday.
