Arab Developers’ consolidated profit sink 78% YoY in 9 months
Updated 11/8/2022 10:38:00 AM
Arab Finance: Arab Developers Holding (ARAB) recorded a 77.9% year-on-year (YoY) decline in consolidated attributable to the parent company during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Tuesday.
The company’s consolidated excluding minority interest tumbled to EGP 19.893 million in the nine months ended September 30th from EGP 89.924 million in the same period a year earlier.
Revenue dropped to EGP 689.799 million in January-September from EGP 1.012 billion in the year-ago period.
On the other hand, the company posted a standalone net loss tax of EGP 4.223 million in the period from January 1st to September 30th, down from EGP 19.527 million in the same period last year.
Established in 2015, Arab Developers is a leading real estate developer in Egypt that has a diversified business portfolio.
