El Obour Real Estate reports 9% profit decline

Updated 3/19/2020 9:23:00 AM

ArabFinance:  El Obour Real Estate Investment (OBRI) reported an 8.9% Year on Year (YoY) decline in its net profit for 2019.

The company posted net profit EGP 2,015,165 in 2019, compared to EGP 2,211,331 in the corresponding year, according to the released financial statement.

On March 18, the board of directors proposed profit distribution attributable to shareholders of EGP 0.30 per share. 

Established in 1994 and listed in 1998, OBRI operates as a real estate and general contracting company.