Utopia registers 122% YoY profit hike in 9 months

Updated 11/2/2022 12:41:00 PM

Arab FinanceUtopia for Real Estate and Tourism Investment (UTOP) posted a 122% year-on-year (YoY) increase in net profit during the first nine months of 2022, according to financial indicators filed to the Egyptian Exchange (EGX) on Wednesday.

The company’s net profit after tax rose to EGP 5.582 million in January-September from EGP 2.514 million a year earlier.

Revenues grew to EGP 8.804 million in nine months to September 30th from EGP 7.955 million the year before.

Established in 1999 and listed in 2009, Utopia is a public company that operates within the real estate sector focusing on diversified real estate activities.