Cairo Housing swings to loss in H1 2021

The real estate company approved restructuring the board on March 21

  

ArabFinance: Cairo Housing and Development Company (ELKA) incurred a consolidated net loss before minority interest of EGP 35.431 million in the first half (H1) 2021, according to the company’s financial statements filed to the Egyptian Exchange.

In H1 2020, the company achieved a net profit of EGP 51.785 million.

Standalone net loss reached EGP 50.789 million in H1 2021, a 21% increase from EGP 64.077 million posted in H1 2020.

The real estate company approved restructuring the board on March 21st.

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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