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Al Fanar sees lower net profit

Al Fanar sees lower net profit

ArabFinance: Al Fanar for Contracting, Construction, Trade, Import, and Export Company (FNAR) posted a 59% Year on Year fall in its net profit in 2020, according to the company’s February 21st statement filed to the Egyptian Exchange.

Net profit reached EGP 402,340 in 2020, compared to EGP 971,560 in 2019.

The listed company suffered a net loss of EGP 69,913 during the first half of 2020, against a net profit of EGP 994,624 in the same period of 2019.

Al Fanar 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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