Arab Finance: Arab Developers Holding (ARAB) posted a 344.2% year-on-year (YoY) surge in consolidated net profit attributable to the parent company during the first nine months of 2023, recording EGP 88.37 million, from EGP 19.89 million, according to the financial results filed to the Egyptian Exchange (EGX) on November 15th.

Meanwhile, the company’s revenues surged to EGP 872.412 million from EGP 689.8 million.

On the other hand, the company recorded EGP 66.427 million in standalone net profits after tax in the first nine months of the year, against net losses of EGP 4.223 million in the corresponding period 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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