Giza General Contracting reports profit drop
Updated 2/28/2021 1:49:00 PM
ArabFinance: Giza General Contracting and Real Estate Investment Company’s (GGCC) net profit after tax leveled down to EGP 47.9 million in 2020, from EGP 53.46 million in 2019, including minority shareholders’ rights, according to the company’s statement to the Egyptian Exchange on February 28th.
The company’s standalone net profit decreased to EGP 48.1 million last year, compared to EGP 53.73 million in 2019.
The listed company reported a 37% Year on Year decline in its consolidated net profit in the first half of 2020, recording EGP 25.17 million, compared to EGP 40.06 million in the same period of 2019.
Giza General Contracting is an Egypt-based public shareholding company that operates in the construction and engineering industries sector.
The company is primarily involved in general contracting activities; operation, manufacture, and trade in all requirements of the contracting industry.
