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CIRA posts EGP 112M profit to shareholders in Q1

CIRA posts EGP 112M profit to shareholders in Q1

ArabFinance: Cairo for Investment and Real Estate Development (CIRA) registered a consolidated profit attributed to the shareholders worth EGP 112.27 million during the first quarter (Q1) that ended on November 30th 2020, according to a disclosed income statement.

The result came 12% Year on Year (YoY) higher than EGP 100.25 million in the September-November 2019 period.

Earnings per share stood at EGP 0.16 in Q1 of fiscal year (FY) 2020/2021, compared with EGP 0.15 in the prior-year period.

As for the standalone income statement, CIRA incurred a loss of EGP 7.76 million at the end of November 2020, against a profit of EGP 10.66 million in Q1 of FY 2019/2020.

The company posted a loss per share of EGP 0.01 in the first three months of the current FY, versus earnings per share of EGP 0.02 in the same period of FY 2019/2020.

CIRA’s revenues stood at EGP 370 million during Q1 of this FY, posting an annual growth of 18% from EGP 313.12 million.

Chairman of CIRA Mohamed el Kalla said Q1 results were backed by the opening of four new faculties at Badr University in Cairo, according to a separate press release on January 14th.

CIRA said last September it commenced the construction works of Badr University in Assiut.

 

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