Utopia posts 21.8% profit drop in 9 months

Updated 11/7/2021 12:14:21 PM

ArabFinance: Utopia for Real Estate And Tourism Investment (UTOP) reported a 21.8% year-on-year decline in net profit after profit in the nine-month period ended September 30th, 2021, according to the company’s financial indicators filed to the Egyptian Exchange (EGX).

Net profit after tax stood at EGP 2.51 million in the first nine months of 2021, down from EGP 3.21 million in the same period of 2020.

Revenue fell by 10.3% to EGP 7.95 million in the January-September period of 2021 from EGP 8.87 million in the year-ago period.

Established in 1999 and listed in 2009, Utopia is a public company that operates within the real estate sector focusing on diversified real estate activities.