Arab Developers swings to profitability in 2023

Updated 3/10/2024 11:50:00 AM
Arab Developers swings to profitability in 2023

Arab Finance: Arab Developers Holding (ARAB) recorded consolidated net profits attributable to the parent company in 2023 of EGP 98.47 million, against net losses of EGP 17.305 million in 2022, the company disclosed.

Consolidated revenues hit EGP 1.265 billion last year, up from EGP 849.196 million the year before.

On the other hand, the firm’s standalone net profits after tax dropped to EGP 87.322 million in 2023 from EGP 92.872 million in 2022.

Established in 2015, Arab Developers is a leading real estate developer in Egypt that has a diversified business portfolio.

Related News