Elsaeed Contracting profit jumps
Updated 11/12/2020 2:55:00 PM
ArabFinance: Elsaeed Contracting and Real Estate Investment Company (SCCD) achieved a 70% Year on Year rise in its consolidated net profit in the first nine months of 2020, according to the company’s November 12th financial statements filed to the Egyptian Exchange.
Consolidated net profit before minority interest stood at EGP 78,734,515 in the January-September period of 2020, compared to EGP 46,387,853 achieved in the prior-year period.
Standalone net profit reached EGP 79,113,723 in the January-September period of 2020, a 68% increase from EGP 47,025,915 posted in the corresponding period a year earlier.
In mid-May, the company signed agreements to sell some of the office spaces in its administrative building in Katamya. The contract is valued at EGP 140,350,000, the company said.
SCCD is an Egypt-based company engaged in the provision of general and specialized contracting and construction services. The company’s activities are structured into three divisions: Contracting, Gravel Quarries and Real Estate.
