Egypt’s real estate developer Emaar Misr has reported an increase in its profits by 102.6% in the first half (H1) of 2021.
In a statement to the Egyptian Exchange, the company stated that it achieved profits of EGP 1.33bn during the first six months of 2021, compared to EGP 656.55m in the same period in 2020, taking into account minority rights.
The company’s revenues rose during that period to EGP 3.78bn, compared to EGP 1.04bn in H1 of 2020.
The company’s business results showed that the consolidated and independent financial statements match.
Moreover, Emaar Misr achieved profits of EGP 529.12m during the first three months of this year, compared to profits of EGP 247.56m in the comparison period of 2020, taking into account minority rights.