ArabFinance: Al Shams Housing and Urbanization (ELSH) reported a drop in net profit for the full year ended December 31st 2021, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on March 31st.

Net profit after tax amounted to EGP 83.84 million in 2021, down from EGP 149.67 million in 2020.

Operating revenue stood at EGP 223.89 million last year, declining from EGP 326.97 million in 2020.

Al Shams Housing 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.