Cairo – Mubasher: The unaudited consolidated financial results of the Real Estate Egyptian Consortium showed a 257.13% year-on-year profit surge during 2019.
Net profits increased to EGP 39.371 million last year, compared to EGP 11.024 million in 2018, the company said in a bourse disclosure on Monday.
Meanwhile, the company’s revenues surged by 276.65% to EGP 79.482 million in the twelve-month period ended 31 December 2019, compared to EGP 21.102 million a year earlier.
As for standalone business, the company reported a net profit of EGP 39.371 million in 2019, up from EGP 11.024 million in the previous year.
It is worth mentioning that during the first nine months of 2019, the Real Estate Egyptian Consortium’s net profits grew to EGP 30.17 million, compared to EGP 7.496 million in the corresponding period a year earlier.
