Egypt: Heliopolis Company’s profit balloons to $164.4mln in 2023

Operating revenues skyrocketed to EGP 15.62 billion last year from EGP 1.99 billion in 2022, according to the annual financial results

Staff Writer, Mubasher

April 1, 2024

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Heliopolis Company for Housing and Development posted a net profit of EGP 7.80 billion in 2023, a surge from EGP 603 million a year earlier.

Operating revenues skyrocketed to EGP 15.62 billion last year from EGP 1.99 billion in 2022, according to the annual financial results.

The basic earnings per share (EPS) soared to EGP 5.85 in the 12-month period that ended on 31 December 2023 from EGP 0.45 the year before.

In January 2024, Heliopolis Company announced expecting a return of EGP 39.70 billion from an 865-acre project in New Heliopolis City.

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