Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) reported consolidated net profits of EGP 250.037 million in the January-September period of 2021, down by 60% year-on-year (YoY) from EGP 630.76 million, the unaudited financial results showed.
The revenues declined to EGP 1.38 billion in the January-September period, compared to EGP 1.76 billion in the year-ago period, the company said in a bourse disclosure on Tuesday.
Meanwhile, the standalone net profit slid to EGP 257.64 million in the nine-month period ended 30 September, compared to EGP 635.65 million in the corresponding period a year earlier.
In the first half (H1) of 2021, MNHD logged EGP 228.6 million in net profits, compared to EGP 482 million in H1-20.
