Cairo – Mubasher: The unaudited results showed that National Real Estate Bank for Development turned to losses in the first nine months of 2016.
The company suffered EGP 628,000 in the nine-month period of 2016, against EGP 2.1 million in the year-ago period, according to a bourse filing on Sunday.
Revenues grew 47% to EGP 74.8 million in the aforementioned period from EGP 32.6 million in the same period of the previous year.
In the first half of 2016, the company’s net profit reached EGP 84,000, with a 96% decline year-on-year.
