Arab Finance: Emaar Misr for Development (EMFD) reported a 119.2% year-on-year (YoY) increase in consolidated net profits after tax in the first half (H) of 2024, hitting EGP 7.646 billion, compared to EGP 3.489 billion, as per the company's financial statement.

Meanwhile, revenues went down to EGP 5.608 billion in the January-June period of this year from EGP 5.692 billion in the corresponding period last year.

As for the firm’s standalone results, net profits after tax rose to EGP 7.504 billion in H1 2024, compared to EGP 3.489 billion in H1 2023.

Meanwhile, standalone revenues fell to EGP 5.608 billion from EGP 5.692 billion.

Established in 2007, Emaar Misr is engaged in real estate development operations. It undertakes commercial and residential development projects such as residential villages and communities, business centers, malls, and shopping complexes, villas, townhouses, and apartments.

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