Egypt's CIRA posts $22.36mln consolidated profits in 9 months

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Egypt - Cairo for Investment and Real Estate Development’s (CIRA) consolidated profit attributable to the parent company inched down to EGP 423.563 million in the nine-month period ended May 31st, down from EGP 425.482 million in the same period a year ago, according to financial statements filed to the Egyptian Exchange (EGX) on July 21st.

Consolidated operating revenue increased to EGP 1.464 billion from September 2021 to the end of May 2022 from EGP 1.27 billion in the corresponding period the year before.

As for standalone financials, the company’s net profit after tax surged to EGP 342.642 million in the September-May period from EGP 238.797 million.

CIRA is an Egypt-based company, operating in the investment field across diversified sectors, including education, construction and real estate, health care, information technology, and support services.