Egypt's Heliopolis Housing's adjusted profit down 51% in FY20/21; dividends proposed

The revenues declined to $36mln

Cairo – Mubasher: Heliopolis Company for Housing and Development achieved net profits of EGP 180.15 million in fiscal year (FY) 2020/2021, down by 50.7% year-on-year (YoY) from EGP 365.55 million, the adjusted unaudited financial results showed.

The revenues declined to EGP 574.18 million in the year ended 30 June from EGP 1.099 billion a year earlier, the company said in a bourse disclosure on Monday.

The board of directors recommended a cash dividend distribution of EGP 0.10 per share, totalling EGP 138.6 million, for the last fiscal year.

In the first nine months of FY20/21, the company logged net profits of EGP 16.25 million, down from EGP 379.59 million in the prior-year period.

Source: Mubasher

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