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Porto Group records EGP 996m revenues in 2015 - Daily News Egypt

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Porto Group records EGP 996m revenues in 2015

The group registered sales of EGP 2.4bn and net profit of EGP 37m in 2015

Porto Group recorded revenues of EGP 996m by the end of 2015, according to a report issued by the company Wednesday.

The company’s total sales amounted to EGP 2.4bn, and net profit were recorded at EGP 37m.

Porto Group, affiliated to Amer Group, is an Egyptian joint stock operating in the real estate sector, founded in 2005.

The company develops real estate projects and urban communities. It has launched several housing developments in east and west Cairo, in addition to seasonal and business units.

The group’s total gross profits of 2015 recorded approximately EGP 276m, with a profit margin of EGP 28m. The company’s operating profit amounted to EGP 16m.

According to the company’s report, Porto Group’s total assets are estimated at EGP 3.8bn, while it has approximately EGP 586m liquidity in banks. The group’s net working capital is approximately EGP 192m.

The property reservation and real estate contracts of Porto Group amounted to approximately EGP 5.2bn in 2015. The group’s administration recorded sales of $2.4bn during 2015.

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