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ICID's standalone profit decreases

ICID's standalone profit decreases

ArabFinance: International Company for Investment and Development (ICID) reported a 10% Year on Year decline in its standalone net profit in the first nine months of 2020, according to the company’s October 27th financial statements filed to the Egyptian Exchange.

Standalone net profit after tax stood at EGP 1,722,438 in the January-September period of 2020, compared to EGP 1,917,039 achieved in the corresponding period a year earlier.

In the first half (H1) of 2020, ICID posted a consolidated net profit of EGP 412,611, compared to EGP 559,343 achieved in H1 2019.

ICID is an Egypt-based company engaged in investment activities in different business sectors. It invests in the real estate and housing sector, contracting projects, reclamation of desert lands, financial leasing, and other investments within new and existing companies. It also invests in livestock and poultry production, animal feeds manufacturing, and agricultural land utilization and reclamation. 

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