El Kahera Housing’s Q1 profits plunge 86%

Cairo – Mubasher: El Kahera Housing reported a net profit after tax, including minority interest, of EGP 8.26 million during the first three months of 2021, lower by 86% than EGP 60.31 million in the same period last year.

Revenues meanwhile grew to EGP 387.99 million in the first quarter (Q1) of 2021 from EGP 276.5 million in Q1-20, according to a bourse filing on Monday.

As for the standalone income statements, the real estate firm incurred a loss after tax worth EGP 38.06 million in Q1-21, compared with EGP 45.01 in Q1-20.

Loss per share stood at EGP 0.42 in the January-March 2021 period, compared to EGP 0.5 in the same period in 2020.

Sales totalled EGP 32.33 million in Q1-21, lower than EGP 58.79 million in Q1-20.

El Kahera Housing had achieved net profits worth EGP 210.46 million in 2020, including minority interest.

Mubasher Contribution Time: 14-Jun-2021 13:14 (GMT)
Mubasher Last Update Time: 14-Jun-2021 13:14 (GMT)