Arab Finance: Arab Developers Holding (ARAB) has become profitable in the first quarter (Q1) of 2023, according to the financial results filed to the Egyptian Exchange (EGX) on May 29th.

The developer achieved net profits after tax of EGP 73.764 million in Q1 2023, versus a net loss of EGP 2.576 million in Q1 2022.

Arab Developers did not report any revenues for the January-March period of this year.

The firm achieved standalone net profits after tax amounting to EGP 73.764 million during the January-March period of 2023, versus net losses of EGP 2.576 million in the first three months of 2022.

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

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