United Housing and Development reports 63% profit decline
Standalone net profit posted a 62% decline
By Staff Writer, Arab Finance
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.
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.
Get Zawya's daily newsletter for insightful and exclusive Middle East perspectives on business and finance. SUBSCRIBE NOW