United Housing and Development reports 63% profit decline

Standalone net profit posted a 62% decline

  
ArabFinance: United Housing and Development (UNIT) posted a 63% Year on Year decrease in its net consolidated profit in Quarter one (Q1) of 2020, according to a June 10th financial statements filed to the Egyptian Exchange.

Consolidated net profit reached EGP 21,538,338 in Q1 2020, compared to EGP 57,754,420 achieved in the corresponding period.

Standalone net profit stood at EGP 21,903,016 in Q1, a 62% decline from EGP 58,009,270 posted in Q1 2019.

The company posted a consolidated net profit of EGP 132,150,968 in 2019, compared to EGP 104,860,787 in 2018.

Standalone a net profit worth EGP 122,445,871 in 2019, compared to a net profit of EGP 104,205,317 a year earlier.

United Housing is an Egypt-based company that operates in the housing and real estate investment sector. The company is primarily engaged in real estate investment activities in Alexandria governorate, as well as in other governorates. It purchases, reclaims, and sells land and property; develops housing and construction projects, and is also engaged in financial leasing.

 

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