Egyptians for Housing’s profits fall 40.3% YoY in Q1 2024

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Operating revenues surged to EGP 44.59 million in the three months

Staff Writer, Arab Finance

May 9, 2024

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Egyptians for Housing and Development Company’s (EHDR) net profits after tax declined by 40.3% year on year (YoY) in the first quarter (Q1) of 2024 to EGP 10.143 million, versus EGP 16.978 million, a disclosure revealed on May 9th.

On the other hand, operating revenues surged to EGP 44.59 million in the three months to March from EGP 27.914 million over the same period last year.

Egyptians for Housing operates in the real estate development and investment sector, with the focus on the businesses of buying, purchasing, dividing, and selling lands, and establishing buildings and facilities.

The company’s business also includes setting up urban expansion projects, residential and commercial complexes, and new township projects.

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