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Al-Fanar Contracting's Q1 profit drops

Al-Fanar Contracting's Q1 profit drops

ArabFinance: Al Fanar for Contracting, Construction, Trade, Import And Export Company (FNAR) reported a 88% Year on Year decrease in its net profit in Quarter one (Q1) of 2020, according to a June 10th disclosure filed to the Egyptian Exchange.

Net profit reached EGP 39,177 in Q1 2020, compared to EGP 315,680 achieved in the prior-year period.

In 2019, the company posted a net profit of EGP 1,260,770 dropped from EGP 1,769,223 a year earlier, with a 29% profit decrease.

Al-Fanar Contracting was established for the purposes of general contracting, construction, trade, import and export, in addition to land reclamation and land division, 350 for the year 2007 and Presidential Decree No. 356 of 2008.


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