Cairo Housing turns to losses in 2021
Updated 3/23/2022 11:06:47 AM
ArabFinance: Cairo Housing and Development Company (ELKA) switched to losses in 2021, reporting a consolidated loss attributable to the parent company of EGP 74.925 million, compared to profits worth EGP 174.884 million in 2020, according to financial statement filed to the Egyptian Exchange (EGX) on Wednesday.
Consolidated operating revenue surged to EGP 2.106 billion in the full year ended December 31st 2021, from EGP 1.164 billion.
On the other hand, the company turned to profitability in the standalone front in 2021, recording a net profit after tax of EGP 9.268 million, versus a net loss of EGP 71.333 million in 2020, financial statements showed.
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.
