Utopia for Real Estate and Tourism Investment (UTOP) has recorded an 18% year-on-year (YoY) decline in net profits after tax during the first quarter (Q1) of 2023, according to the unaudited financial income statement filed to the Egyptian Exchange (EGX) on May 22nd.

The company's net profit after tax stood at EGP 3.347 million in Q1 2023, compared to EGP 4.080 million in the same quarter last year.

Revenue plunged 5.9% to EGP 5.840 million in Q1 2023 from EGP 6.203 million in Q1 2022.

Established in 1999 and listed in 2009, Utopia is a public company that operates within the real estate sector focusing on diversified real estate activities.


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