Cairo Housing turns profitable
Updated 2/28/2021 12:15:00 PM
ArabFinance: Cairo Housing and Development Company (ELKA) achieved a consolidated net profit of EGP 210.46 million in 2020, against a net loss of EGP 65.57 million in 2019, including minority shareholders’ rights, according to the company’s statement to the Egyptian Exchange on February 28th.
As for standalone business, the company’s net loss retreated to EGP 35.76 million in 2020, compared to EGP 78.19 million in the prior year.
During the first nine months of 2020, the listed company reported a 99% Year on Year leap in its consolidated net profit, recording EGP 109.82 million.
Cairo Housing is an Egypt-based firm engaged in real estate and housing development operations.
The listed company’s main activities include acquiring, selling, and leasing lands and buildings as well as city planning and infrastructure construction activities.
