Al Fanar for Contracting reports 11% YoY growth in Q1 net profit

Updated 5/25/2023 9:00:00 AM
Al Fanar for Contracting reports 11% YoY growth in Q1 net profit

Arab Finance: Al Fanar for Contracting, Construction, Trade, Import, and Export Company (FNAR) reported a 11% year-on-year (YoY) increase in net profits after tax for the first quarter (Q1) of 2023, according to the financial indicators filed to the Egyptian Exchange (EGX) on May 25th.

Net profit after tax amounted to EGP 1.967 million in Q1 2023, compared to EGP 1.765 in Q1 2022.

Revenues soared 125% YoY to EGP 22.784 million in Q1 2023 from EGP 10.104 million in Q1 2022.

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

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