Heliopolis Housing and Development (HELI) reported a 3,755.41% year-on-year (YoY) leap in net profits after tax for the first quarter (Q1) of 2024, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on June 2nd.

The company recorded a net profit after tax of EGP 748.465 million in the three-month period ended March 31st, compared to the profit of EGP 19.413 million recorded in the same period of 2023.

Operating revenues stood at EGP 239.688 million during the January-March period of 2024, up from EGP 90.918 million in Q1 2023.

HHD is a leading Egypt-based real estate development company that operates in land reclamation and subdivision, residential real estate development and management, property purchase and sale, and project planning and supervising. This is in addition to the construction of houses, hotels, holiday resorts, and hospitals.

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