Islamic Gharbia switches to profitability in 9 months
Updated 11/9/2022 10:03:00 AM
ArabFinance: Islamic Gharbia Company for Developed Buildings (GIHD) turned to profitability during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on Wednesday.
The company recorded a net profit after tax of EGP 1.5 million in January-September, compared to a net loss of EGP 579,452 a year earlier.
Islamic Gharbia achieved net sales of EGP 2.618 million in 9 months to September 30th.
Islamic Gharbia is an Egypt-based public shareholding company engaged in the real estate development sector.
The company focuses on the purchase and reclamation of land for the purpose of construction and development activities, general and special contracting, trade in raw materials and construction supplies, and import and export of construction-related materials.
