United Company for Housing and Development (UNIT) posted a 110.16% year-on-year (YoY) increase in consolidated net profit attributable to the parent company for the first quarter (Q1) of 2024, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on June 2nd.

Consolidated net profit excluding minority interest amounted to EGP 12.307 million in Q1 2024, compared to a profit of EGP 5.856 million in Q1 2023.

Sales and revenues hit EGP 138.997 million, up from EGP 39.183 million.

As per the standalone financial statement, the company recorded a net profit after tax of EGP 11.364 million in the January-March period this year, up from EGP 3.042 million in Q1 2023.

United for Housing is an Egypt-based company that operates in the housing and real estate investment sector.

The company is primarily engaged in real estate investment activities in Alexandria and other governorates. It purchases, reclaims, and sells land and property, in addition to developing housing and construction projects and offering financial leasing services.

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