Cairo Housing achieves 100% profit rise

Cairo Housing and Development Company reported a 99% Year on Year leap in its consolidated net profit in the first nine months

  
ArabFinance: Cairo Housing and Development Company reported a 99% Year on Year leap in its consolidated net profit in the first nine months of 2020, according to the company’s November 17th financial statements filed to the Egyptian Exchange.

Consolidated net profit before minority interest stood at EGP 109,825,838 in the January-September period of 2020, compared to EGP 55,146,925 achieved in the prior-year period.

Standalone net loss reached EGP 14,043,629 in the January-September period of 2020, a 56% decline from EGP 31,701,218 incurred in the corresponding period a year earlier.

The company will sell an administrative building in Nasr City for EGP 150 million.

Cairo Housing is an Egypt-based firm engaged in real estate and housing development operations.

The listed company’s main activities include acquiring, selling, and leasing lands and buildings as well as city planning and infrastructure construction activities.

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