Al Shams Housing registers net profit of EGP 50M
Updated 6/12/2021 5:24:00 AM
ArabFinance: Al Shams Housing and Urbanization (ELSH) posted a net profit of EGP 49.259 million in quarter one (Q1) 2021, according to the company’s financial statements filed to the Egyptian Exchange.
In Q1 2020, the company reported a net profit of EGP 49.410 million.
The company will increase its authorized capital to EGP 500 million from EGP 200 million.
In January, the company’s extraordinary general assembly approved an authorized capital increase.
Al Shams is primarily focused on the purchase and lease operations of lands for the purpose of developing, managing, selling, and leasing out property and buildings, as well as offering contracting, construction, maintenance, and management services to residential, touristic, and administrative structures.
