Arab Finance: Arab Development and Real Estate Investment (ADRI) posted a 61.08% year-on-year decline in net profit after tax during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Wednesday.
The company’s net profit after tax declined to EGP 472,518 in January-September from EGP 1.214 million a year earlier.
Revenue grew to EGP 6.537 million in nine months to September 30th from EGP 4.378 million the year before.
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.