Emerald records profits of LE 26.15M during 2019

CAIRO – 23 February 2020: Emerald Real Estate Investment recorded a 28.3 percent increase in its annual profits during 2019, recording LE 26.15 million, compared to LE 17.62 million in 2018.

According to a filing to the Egyptian Exchange (EGX), the revenues rose to LE 59.32 million, compared to LE 56 million in the previous year.

Moreover, the company’s board of directors recommended a cash dividend distribution of LE 12 million for 2019.

In January, the listing committee of the EGX decided to list Emerald’s stock with an issued capital of LE 250 million distributed over 250 million shares.

Earlier, CEO of the Egyptian Real Estate Investment Company, which owns 50-percent of Emerald Real Estate Investment shares, said that the public and private offerings were covered more than required (raising about LE 280 million).

Emerald Real for Estate Investment is a private company operating within the real estate sector.