ArabFinance: Elsaeed Contracting and Real Estate Investment Company (SCCD) (UEGC) reported a 97% Year on Year rise in its consolidated net profit in the first half (H1) of 2020, according to the company’s financial statements filed to the Egyptian Exchange.

Consolidated net profit stood at EGP 68,344,393 in H1 2020, compared to EGP 34,697,424 achieved in H1 2019.

Standalone net profit reached EGP 68,679,914 in H1 2020, a 96% rise from EGP 35,000,270 posted in H1 2019.

In Mid-May, the company signed agreements to sell some of the office spaces in its administrative building in Katamya. The contract is valued at EGP 140,350,000, the company said.

SCCD is an Egypt-based company engaged in the provision of general and specialized contracting and construction services. The company’s activities are structured into three divisions: Contracting, Gravel Quarries and Real Estate.