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Al Fanar for Contracting’s profit skyrockets 3,052% in 9 months

Al Fanar for Contracting’s profit skyrockets 3,052% in 9 months

ArabFinanceAl Fanar for Contracting, Construction, Trade, Import, and Export Company (FNAR) achieved a net profit after tax of EGP 2.012 million in the nine-month period ended September 30th, 2021, according to the company’s financial indicators filed to the Egyptian exchange (EGX).

This marks a 3,052% year-on-year surge in net profit, compared to a profit of EGP 63,854 in the first nine months of 2020.

Revenue jumped by 246% to EGP 27.30 million in the January-September period of 2021 from EGP 7.88 million in the same period of 2020.

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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