Al Fanar’s profits down 24% YoY in 2023

Updated 3/3/2024 10:23:00 AM
Al Fanar’s profits down 24% YoY in 2023

Arab Finance: Al Fanar for Contracting, Construction, Trade, Import, and Export Company (FNAR) reported a 23.7% year-on-year (YoY) decrease in net profits after tax in 2023, the firm disclosed.

Net profits after tax amounted to EGP 8.5 million last year, compared to EGP 11.142 million the year before.

Meanwhile, operating revenues went down to EGP 72.523 million from EGP 84.609 million.

Al Fanar is an Egypt-based company, operating within general contracting, construction, trade, import, and export, in addition to, land reclamation and land division.

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