Arab Finance: Cairo Housing and Development Company (ELKA) switched to profits in 2022, reporting consolidated net profits attributable to the holding company of EGP 106.974 million, versus net losses of EGP 72.660 million in 2021, according to financial statements filed to the Egyptian Exchange (EGX) on March 2^nd.

Consolidated revenues surged to EGP 2.989 billion in the full year ended December 31st 2022, from EGP 2.106 billion in 2021.

For standalone business, the company net profits after tax amounted to EGP 14.011 million last year, up from 11.532 million a year earlier.

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.

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