ArabFinance: Al Shams Housing and Urbanization (ELSH) recorded a 59.15% year-on-year (YoY) net profit growth during the first half (H1) of 2022, according to unaudited financial statements filed to the Egyptian Exchange (EGX) on Monday.

The company’s net profit after tax surged to EGP 85.539 million in H1 2022 from EGP 53.746 million the year before.

Revenue soared to EGP 173.938 million in the January-June period from EGP 132.363 million in the same period a year earlier.

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.