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.
REUTERS/Mohamed Abd El Ghany
By Staff Writer, Arab Finance
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.
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