Emaar Misr's profits rise 138% in 9 months

CAIRO – 2 November 2021: Emaar Misr for Development, accomplished a hike in its profits during the first nine months of 2021 by 138 percent on an annual basis to record LE 2.81 billion, compared to 1.18 billion during the same period of 2020m including minority rights.

The company explained in a filing to the Egyptian Stock Exchange (EGX) that its revenues rose during the nine months to record LE 7.62 billion at the end of September, compared to LE 2.43 billion during the same period last year.

As per standalone results, the company's profits rose during the period from January to September to record LE 2.81 billion, compared to LE 1.18 billion during the same period last year.

Emaar Misr Development Company achieved, during the first half of 2021, profits of LE 1.33 billion during the first six months of 2021, compared to profits of LE 656.55 million in the comparative period of 2020, taking into account minority rights.

The company’s revenues rose during the period to LE 3.78 billion, compared to revenues of LE 1.04 billion in the first half of 2020.