Arab Finance: Arab Development and Real Estate Investment (ADRI) has reported a 5.02% year-on-year (YoY) increase in net profits after tax during the first quarter (Q1) of 2022, recording EGP 115,173, according to the financial income statement filed to the Egyptian Exchange (EGX) on May 24th.
Operating revenue surged to EGP 2.193 million in Q1 2022 from EGP 464,221 in Q1 2021.
Launched in 2011 and listed on EGX in 2014, the company's operations are focused on real estate development. It has one subsidiary operating across Egypt, working on real estate investment trusts.