Al Fanar sees 25% YoY profit surge in Q1 2024

Net profits after tax amounted to EGP 2.458 million in Q1 2024

Staff Writer, Arab Finance

May 28, 2024

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Arab Finance: Al Fanar for Contracting, Construction, Trade, Import, and Export Company (FNAR) reported a 25.4% year-on-year (YoY) increase in net profits after tax for the first quarter (Q1) of 2024, according to the financial indicators.

Net profits after tax amounted to EGP 2.458 million in Q1 2024, compared to EGP 1.967 million in Q1 2023.

Meanwhile, revenues fell to EGP 15.817 million from EGP 22.785 million.

Al Fanar is an Egypt-based company, operating within general contracting, construction, trade, import, and export, in addition to, land reclamation and land division.

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