Elsaeed Contracting and Real Estate Investment Company (SCCD) reported a 11.6% year-on-year (YoY) increase in consolidated net profits attributable to the holding company during the first quarter (Q1) of 2024, hitting EGP 61.034 million, versus EGP 54.676 million, a statement showed.

However, operating revenues went down to EGP 701.502 million from January through March this year, compared to EGP 736.458 million over the same period last year.

The company recorded standalone net profits after tax of EGP 60.711 million in Q1 2024, up from EGP 52.233 million in Q1 2023.

Meanwhile, standalone operating revenues fell to EGP 695.052 million from EGP 727.937 million.

SCCD is an Egypt-based company engaged in the provision of general and specialized contracting and construction services. The company’s activities are structured into three divisions: contracting, gravel quarries, and real estate.

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