Cairo – The consolidated net earnings of Emaar Misr for Development surged by 131.55% on an annual basis during the first half (H1) of 2022 to EGP 3.08 billion, including minority shareholders’ rights.

This is compared to net profits of EGP 1.33 billion in H1-21.

Revenues during the six-month period ended 30 June 2022 stood at EGP 7.02 billion, up from EGP 3.78 billion in the year-ago period, according to a bourse disclosure on Monday.

During the second quarter (Q2) of 2022, the company’s net profits rose to EGP 1.49 billion, compared to EGP 801.06 million in Q2-21.

Meanwhile, the real estate developer achieved EGP 4.45 billion in revenue, compared to EGP 2.24 billion in Q2-21

In the first three months (3M) of 2022, the consolidated net profits of Emaar Misr hiked to EGP 1.58 billion, compared to EGP 529.12 million in the year-ago period.

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