Emaar Misr’s consolidated profits hike 157.5% YoY in Q1 2024

Reuters

Meanwhile, revenues went up to EGP 1.576 billion in the January-March period of this year from EGP 1.863 billion in Q1 2023

Staff Writer, Arab Finance

May 14, 2024

PHOTO

Emaar Misr for Development (EMFD) reported a 157.5% year-on-year (YoY) in consolidated net profits attributable to the parent company for the first quarter (Q1) of 2024, logging EGP 5.732 billion, compared to EGP 2.226 billion, as per the company's financial statements.

Meanwhile, revenues went up to EGP 1.576 billion in the January-March period of this year from EGP 1.863 billion in Q1 2023.

Respecting the firm’s standalone results, net profits after tax rose to EGP 5.616 billion in Q1 2024 from EGP 2.226 billion in Q1 2023.

Established in 2007, Emaar Misr is engaged in real estate development operations. It undertakes commercial and residential development projects such as residential villages and communities, business centers, malls, and shopping complexes, villas, townhouses, and apartments.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.