Cairo – Mubasher: ElSaeed Contracting and Real Estate Investment Company posted consolidated net profits after tax valued at EGP 70.69 million in the first half (H1) of 2023, versus EGP 81.80 million a year earlier, including minority interest.
Revenues hiked year-on-year (YoY) to EGP 1.32 billion in January-June 2023 from EGP 1.04 billion, according to the consolidated income statements.
Additionally, the total assets widened to EGP 3.45 billion in H1-23 from EGP 2.96 billion as of 31 December 2022.
Standalone Business
The EGX-listed company generated EGP 67.91 million in standalone net profit after tax during the first six months (6M) of 2023, versus EGP 80.08 million in 6M-22.
Non-consolidated revenues jumped to EGP 1.31 billion in H1-23 from EGP 1.02 billion in the year-ago period.
Basic and diluted earnings per share (EPS) amounted to EGP 0.08, down from EGP 0.09 in H1-22
Financials for Q2-23
In the second quarter (Q2) of 2023, the firm registered consolidated net profit after tax worth EGP 16.07 million, compared to EGP 61.97 million a year earlier, including non-controlling equity.
The consolidated revenues climbed to EGP 591.93 million in April-June 2023 from EGP 560.38 million during the same period in 2022.
As for the standalone business, the net profits after tax shrank to EGP 15.68 million in Q2-23 from EGP 44.17 million in Q2-22, whereas the basic and diluted EPS plummeted to EGP 0.01 from EGP 0.04.
Meanwhile, the revenues increased to EGP 582.56 million from EGP 541.14 million.
In January-March 2023, ElSaeed Contracting recorded consolidated net profit after tax worth EGP 54.67 million, higher than EGP 35.87 million in Q1-22, including non-controlling equity.
