Cairo – Mubasher: Madinet Nasr Housing and Development (MNHD) posted a 6% year-on-year growth in its consolidated profits for the first quarter of 2019.
The Egyptian real estate firm’s net profits amounted to EGP 332.3 million in Q1-19, compared to EGP 313.5 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
Meanwhile, revenues went up 3.83% year-on-year to EGP 634.22 million from EGP 610.8 million in Q1-18.
As for standalone business, the EGX-listed firm reported profits of EGP 332.13 million in Q1-19, compared to EGP 328.89 million in the corresponding period a year earlier.
For the full-year 2018, MNHD posted a 19% growth in its consolidated profits, registering EGP 1.11 billion, compared to EGP 933 million in the prior year.
In addition, the real estate firm’s revenues grew to EGP 2.7 billion last year from EGP 2.42 billion in 2017.
