Egyptians for Housing’s H1 consolidated profit hikes 77.5% YoY
Updated 8/11/2022 2:18:52 PM
Arab Finance: Egyptians for Housing and Development Company (EHDR) achieved a consolidated net profit attributable to the parent company of EGP 1.46 million in the first half (H1) of 2022, up by 77.47% from EGP 6.52 million in H1 2021, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on August 11th.
Operating revenues reached EGP 34.96 million in H1 2022, slightly up from EGP 34.59 million in the year-ago period.
At the level of the standalone financial statement, the company incurred a standalone net loss of EGP 4.64 million in H1 2022, versus a net profit of EGP 2.10 million in the same period last year.
Egyptians for Housing operates in the real estate development and investment sector, with the focus on the businesses of buying, purchasing, dividing, and selling lands, and establishing buildings and facilities.
The company’s business also includes setting up urban expansion projects, residential and commercial complexes, and new township projects.
