Cairo Housing swings to profitability in 9 months
Updated 11/14/2022 2:15:00 PM
Arab Finance: Cairo Housing and Development Company (ELKA) switched to profitability in consolidated financials attributable to the parent company, according to financial statements filed to the Egyptian Exchange (EGX) on Monday.
The company recorded a consolidated profit excluding minority interest of EGP 775,645 in nine months to September 30th, compared to a net loss of EGP 46.052 million a year earlier.
Revenues surged to EGP 2.095 billion in January-September from EGP 1.203 billion the year before.
Furthermore, Cairo Housing registered a standalone net profit after tax of EGP 11.063 million from January to the end of September, compared to a net loss of EGP 46.449 million in the same period last year.
