Cairo Housing swings to loss in 9 months

During the first half of 2021, the company incurred a consolidated net loss

  

ArabFinance: Cairo Housing and Development Company (ELKA) suffered a consolidated net loss of EGP 46.05 million during the first nine months of 2021, against a net profit of EGP 109.82 million in the corresponding period of 2020, according to the company’s statement to the Egyptian Exchange (EGX).

The company’s standalone net loss of EGP 46.44 million during the nine-month period ended in September 2021, compared to EGP 14.04 million in the same period last year.

During the first half of 2021, the company incurred a consolidated net loss before minority interest of EGP 35.431 million.

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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