Cairo – Mubasher: The financial indicators of Madinet Nasr Housing and Development showed a 28% year-on-year increase in profits for 2017 as a result of higher revenues.
The Egyptian real estate firm achieved a net profit of EGP 943.4 million last year, versus EGP 738.7 million in 2016, according to a filing to the Egyptian Exchange (EGX) on Monday.
Revenues doubled to EGP 2.11 billion in 2017, compared to EGP 1.7 billion a year earlier.
Given that Madinet Nasr Housing last posted a net profit of EGP 757.14 million in the first nine years of 2017, up from EGP 457.34 million in the same period a year earlier.
