Real Estate Egyptian Consortium’s profits inch up 0.8% YoY in 2023

Updated 3/17/2024 9:47:00 AM
Real Estate Egyptian Consortium’s profits inch up 0.8% YoY in 2023

Arab Finance: The Real Estate Egyptian Consortium (AREH) posted a 0.8% year-on-year (YoY) uptick in net profits after tax in 2023 to EGP 12.236 million, compared to EGP 12.137 million, according to a disclosure on March 17th.

Operating revenues came in at EGP 33.705 million last year, up from EGP 30.188 million in 2022.

Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector.

The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, and housing complexes, among others.

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