Emaar Misr’s consolidated profits 199% YoY higher in Q1

Updated 5/29/2022 12:33:00 PM

ArabFinanceEmaar Misr for Development (EMFD) has reported a 199% year-on-year (YoY) surge in consolidated profit attributable to the parent company during the first quarter (Q1) of 2022, according to the consolidated financial statement filed to the Egyptian Exchange (EGX) on May 29th.

The real estate developer has recorded EGP 1.582 billion in consolidated net profit excluding minority interest, compared to EGP 529.12 million in Q1 2021.

Revenue surged to EGP 2.571 billion in Q1 2022 from EGP 1.544 billion in Q1 2021.

Established in 2007, Emaar Misr is engaged in real estate development operations. It undertakes commercial and residential development projects such as residential villages and communities, business centers, malls, and shopping complexes, villas, townhouses, and apartments.