Cairo – Mubasher: The profits of Madinet Nasr Housing and Development (MNHD) declined by 10% year-on-year (YoY) to EGP 1 billion in 2019 from EGP 1.11 billion in 2018, according to the company’s consolidated financial statements to the Egyptian Exchange (EGX) on Monday.
The company’s revenues reached EGP 2.2 billion in 2019, compared to EGP 2.78 billion in the previous year.
Meanwhile, the standalone profits fell to EGP 934.88 million last year from EGP 1.06 billion in 2018.
It is noteworthy to mention that during the first nine months of 2019, the company’s net profits recorded EGP 630.98 million from EGP 869.07 million in the same period of the prior year.
