Zahraa Maadi’s profits up 10% YoY in Q1 2024

Reuters/Asmaa Waguih

Nets profit after tax recorded EGP 83.673 million in Q1 2024, compared to EGP 76.231 million in Q1 2024

Staff Writer, Arab Finance

May 28, 2024

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Zahraa Maadi Investment and Development (ZMID) posted a 9.76% year-on-year (YoY) uptick in net profits after tax for the first quarter (Q1) of 2024, according to the financial indicators released on May 28th.

Nets profit after tax recorded EGP 83.673 million in Q1 2024, compared to EGP 76.231 million in Q1 2024.

Zahraa Maadi is an Egypt-based public shareholding company engaged in real estate development, construction, contracting, urbanization, housing, and tourism, as well as other investment activities.

The listed firm is involved in the construction and development of residential and commercial buildings, as well as the purchase, sale, and reclamation of lands and properties.

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