Al Fanar’s profits fall 49% YoY in Q3

Updated 11/13/2023 9:14:00 AM
Al Fanar’s profits fall 49% YoY in Q3

Arab Finance: Al Fanar for Contracting, Construction, Trade, Import, and Export Company (FNAR) reported a 48.8% year-on-year (YoY) decrease in net profits after tax for the third quarter (Q1) of 2023, according to the financial indicators filed to the Egyptian Exchange (EGX) on November 13th.

Net profits after tax amounted to EGP 6.665 million in Q3 2023, compared to EGP 13.011 million in Q3 2022.

Revenues inched down by 3.1% YoY to EGP 63.515 million in the July-September period from EGP 65.57 million.

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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