Arab Finance: First Investment Company and Real Estate Development (FIRE) posted a 51.85% year-on-year (YoY) decline in net profit after tax during the first half (H1) of 2023, according to the financial income statement filed to the Egyptian Exchange (EGX) on August 15th.
The company’s net profit after tax went down to EGP 850,474 in H1 2023 from EGP 1.766 million in H1 2022.
Net revenues dropped to EGP 2.734 million in the six months ended June 30th from EGP 4.971 million in the same period of 2022.
Established in 2008, First Investment Company operates within the real estate sector focusing on diversified real estate activities.