ArabFinance: Arab Development and Real Estate Investment (ADRI) reported a 44.5% year on year rise in its net profits for 2019.
The company earned net profits after taxes of EGP 1,993,735 rising from EGP 1,379,007 in 2018.
ADRI announced earnings per share of EGP 0.03 for 2019.
According to the annual report of the board of directors, the sales volume in 2019 reached EGP 18,281,759 compared to EGP 33,026,206 in 2018.
It is noteworthy that the board proposed transferring the profits to the company's reserves.
Launched in 2011 and listed in 2014.\, ADRI operations are focused on Real Estate development. The company has one subsidiary operating across Egypt, working on Real Estate Investment Trusts (REITs).