Arab Developers posts EGP 91.6M consolidated profit for 2021

Updated 3/8/2022 10:43:00 AM

ArabFinance: Arab Developers Holding (ARAB), formerly known as Porto Group Holding (PORT), reported a consolidated net profit attributable to the parent company of EGP 91.62 million for the full-year ended December 31st 2021, according to the company’s financial statements filed to the Egyptian Exchange (EGX).

This marks a surge from the consolidated net profit excluding minority interest recorded in 2020 of EGP 25.006 million.

Moreover, the company generated a consolidated revenue of EGP 1.105 billion last year, up from EGP 863.39 million in 2020.

Meanwhile, the company achieved a standalone net profit after tax of EGP 6.73 million in 2021, versus a net loss of EGP 17.72 million in 2020.

Established in 2015, Arab Developers is a leading real estate developer in Egypt that has a diversified business portfolio.