Utopia for Real Estate reports 302% YoY profit hike in 2023

Updated 2/18/2024 9:35:00 AM
Utopia for Real Estate reports 302% YoY profit hike in 2023

Arab Finance: Utopia for Real Estate and Tourism Investment (UTOP) recorded a 301.8% year-on-year (YoY) jump in net profits after tax during 2023, according to financial indicators filed to the Egyptian Exchange (EGX) on February 18th.

The company’s net profit after tax stood at EGP 13.467 million, compared to EGP 3.351 million in 2022.

Revenues amounted to EGP 22.185 million from January through December, up 78.3% YoY from EGP 12.493 million.

Established in 1999 and listed in 2009, Utopia is a public company that operates within the real estate sector focusing on diversified real estate activities.

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