Arab Finance: Arab Development and Real Estate Investment (ADRI) posted a 4.73% year-on-year increase in net profit after tax during the first three months of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on May 11^th.

The company’s net profit after tax edged up to EGP 120,626 in January-March of this year period from EGP 115,173 a year earlier.

Revenue dropped to EGP 1.264 million during the first quarter (Q1) of 2023 from EGP 2.193 million in the first three months of 2022.

Launched in 2011 and listed on EGX in 2014, the company's operations are focused on real estate development. It has one subsidiary operating across Egypt, working on real estate investment trusts.

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