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CIRA's revenues surpass EGP 1B mark

CIRA's revenues surpass EGP 1B mark

ArabFinance: Cairo for Investment and Real Estate Development (CIRA) said its total revenues exceeded the EGP 1 billion mark in fiscal year (FY) 2019/2020, according to a November 8th press release.

The company recorded EGP 1.087 billion, up 54% from EGP 704.7 million recorded in FY 2018/19.

The growth comes despite "a challenging period brought about by the COVID-19 pandemic and the scale of its impact across industries and markets globally during the year," the company noted.

The revenues were driven by double-digit growth across the group’s tuition and other revenue streams including bus, admission, and dormitory fees, the statement highlighted.

Net profit rose 21% to EGP 267.3 million in FY 2019/2020, compared to the 221.1 million posted a year earlier.

CIRA is engaged in the investment in diversified sectors, including education, construction and real estate, health care, information technology, and support services. 

The company is specialized in constructing, furnishing, and managing educational, medical, and residential units, as well as trading and supplying medical equipment for hospitals and oil fields service equipment.



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