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CIRA reports 10% profit increase

CIRA reports 10% profit increase

ArabFinanceCairo for Investment and Real Estate Development (CIRA) posted a consolidated net profit before minority interest of EGP 229.822 million in the September-February period of the fiscal year (FY) 2020/2021, according to the company’s April 15th financial statements filed to the Egyptian Exchange.

This marked a Year on Year YoY rise of 9.5% when compared to EGP 209.835 million in the first six months of FY 2019/2020.

Standalone net profit reached EGP 6.146 million in the September-February period of FY 2020/2021, a 78% decline from EGP 28.379 million posted in the prior-year period.

CIRA partnered with Beltone Consumer Finance (Bel-cash), the consumer finance arm of Beltone Financial, to offer education funding, CEO of CIRA Mohamed Kalla said.

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

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