Al Fanar for Contracting reports 149.8% YoY growth in Q1 net profit

Updated 6/1/2022 3:52:40 PM

Arab FinanceAl Fanar for Contracting, Construction, Trade, Import, and Export Company (FNAR) reported a 149.87% year-on-year (YoY) growth in net profits after tax for the first quarter (Q1) of 2022, according to the financial income statement filed to the Egyptian Exchange (EGX) on May 31st.

Net profit after tax amounted to EGP 1.76 million in Q1 2022, compared to EGP 706,734 in Q1 2021.

Operating revenues fell to EGP 10.10 million in Q1 2022 from EGP 14.54 million in Q1 2021.

Al Fanar is an Egypt-based company, operating withing general contracting, construction, trade, import, and export, in addition to, land reclamation and land division.