Cairo – Mubasher: Emaar Misr for Development posted consolidated net profits amounting to EGP 7.64 billion in the first half (H1) of 2024, versus EGP 3.48 billion in H1-23.
Net revenues reached EGP 5.60 billion in H1-24, down year-on-year (YoY) from EGP 5.69 billion, according to the consolidated financial statements.
During the first six months (6M) of 2024, the basic and diluted earnings per share (EPS) climbed to EGP 1.64 from EGP 0.74 in H1-23.
Total assets amounted to EGP 98.61 billion in H1-24, versus EGP 87.22 billion as of 31 December 2023.
Standalone Financials
The group recorded an annual rise in standalone net profit after tax to EGP 7.50 billion during January-June 2024, compared to EGP 3.48 billion.
Results for Q2
The company achieved consolidated profits valued at EGP 1.91 billion in the second quarter (Q2) of 2024, higher than EGP 1.26 billion in Q2-23.
Basic and diluted EPS jumped to EGP 0.40 in Q2-24 from EGP 0.26 a year earlier, while the net revenues enlarged to EGP 4.03 billion from EGP 3.82 billion.
In April-June 2024, the standalone net profits grew to EGP 1.88 billion from EGP 1.26 billion in Q2-23.
During Q1-24, Emaar Misr generated consolidated net profit after tax valued at EGP 5.73 billion, which marked an annual leap from EGP 2.22 billion.
