Al Shams Housings profit falls in H1 2019

Cairo – Mubasher: Al Shams Housing and Urbanization reported a 45.56% year-on-year profit decline during the first half of 2019.

Net profits plunged to EGP 73.90 million in the six-month period ended 30 June, compared to EGP 135.75 million in the corresponding period a year earlier, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Meanwhile, sales slid to EGP 108.6 million in H1-19 from EGP 200.3 million in H1-18.

During the first quarter of 2019, Al Shams Housing and Urbanization’s profit dropped to EGP 36.18 million, compared to EGP 74.19 million in the year-ago period.

Source: Mubasher

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