Cairo – Mubasher: Madinet Nasr Housing and Development posted an increase of 14% in net profits for the second quarter of 2016 on the growth of the revenues by 41%.
The real estate developer saw net profits of EGP 78.6 million in Q2-2016, up from EGP 68.9 million for the comparable period of the previous year.
The firm also reported revenues of EGP 295.9 million for Q2-2016, up by 41.1% y-o-y.
As for the first half of 2016, the company registered net profits of EGP 147.2 million up by 40% from EGP 105.1 million for the same period of 2015.
