ArabFinance:  El Saeed Contracting and Real Estate Investment Company (SCCD) (UEGC) posted a consolidated net profit before minority interest of EGP 34.171 million in quarter one (Q1) 2021, according to the company’s financial statements filed to the Egyptian Exchange.

This marked a Year on Year (YoY) rise of 69% when compared to EGP 20.186 million in Q1 2020.

Standalone net profit reached EGP 34.196 million in Q1 2021, a 67% decline from EGP 20.432 million posted in Q1 2020.

The listed company won an EGP 400 million contract to establish a new project in Luxor.

Elsaeed 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.