Egypt: Tanmiya’s consolidated profits drop 35% YoY in 2023

The firm garnered EGP 20.184 million in consolidated net operating revenues last year, down from EGP 43.167 million in the prior year

Staff Writer, Arab Finance

March 4, 2024

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Tanmiya for Real Estate Investment’s (TANM) consolidated net profits attributable to the parent company fell 35.2% year on year (YoY) in 2023 to EGP 17.034 million, compared to EGP 26.303 million, a statement showed.

The firm garnered EGP 20.184 million in consolidated net operating revenues last year, down from EGP 43.167 million in the prior year.

The company’s standalone results showed a decrease in net profits after tax in 2023 to EGP 13.132 million, versus EGP 21.496 million in 2022.

Meanwhile, it logged standalone revenues of EGP 8.262 million, down from EGP 29.065 million in 2022.

Established in 2021, Tanmiya is a Cairo-based EGX-listed company that operates within the construction and engineering field.

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