Emaar Misr posts profit

Emaar Misr for Development (EMFD) reported a 3.5% Year on Year decline in its consolidated net profit in 2020,

  
Image used for illustrative purpose only. Traders work at the Egyptian stock exchange in Cairo, May 28, 2015.

Image used for illustrative purpose only. Traders work at the Egyptian stock exchange in Cairo, May 28, 2015.

REUTERS/Mohamed Abd El Ghany

ArabFinance: Emaar Misr for Development (EMFD) reported a 3.5% Year on Year decline in its consolidated net profit in 2020, according to the company’s March 7thfinancial statements filed to the Egyptian Exchange.

Consolidated net profit stood at EGP 1.678 billion in 2020, compared to EGP 1.739 billion achieved a year earlier.

Standalone net profit reached EGP 1.678 billion in 2020, a 3.5% decrease from EGP 1.739 billion posted in 2019.

Emaar Misr signed two contracts with Hassan Allam Holding and Orascom Construction Plc to establish two new hotels in North Coast.

Established in 2007, Emaar Misr is engaged in real estate development operations. It undertakes commercial and residential development projects such as residential villages and communities, business centers, malls, and shopping complexes, villas, townhouses, and apartments.

Copyright © 2021 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Equities