Cairo- Mubasher: Madinet Nasr Housing and Development (MNHD) on Wednesday posted a 13% year-on-year increase in its standalone profits for 2018.
The real estate firm logged EGP 1.06 billion in standalone profits during the full-year ended 31 December 2018, compared to EGP 943 million in 2017, according to a statement to the Egyptian Exchange (EGX).
Standalone revenue rose to EGP 2.38 billion last year, versus EGP 2.11 billion a year earlier, the company added.
On Sunday, MNHD reported a 19% year-on-year increase in its consolidated profits for 2018, exceeding EGP 1 billion for the first time.
Net consolidated profits reached EGP 1.11 billion last year, compared to EGP 933 million in 2017, while sales grew to EGP 2.7 billion from EGP 2.42 billion a year earlier.
