Cairo – Mubasher: United Company for Housing and Development has implemented the finance lease contract with Corporate Leasing Company Egypt (CORPLEASE).
Under this contract, United Housing obtained EGP 318 million through the finance lease mechanism, according to a bourse statement on Sunday.
On 29 November 2022, the ordinary general meeting (OGM) of United Housing approved entering into a contract with CORPLEASE.
It is worth noting that in 2021, United Housing achieved EGP 80.92 million in profits, compared to EGP 105.80 million in 2020, including minority shareholders’ rights.
In the meantime, sales dipped to EGP 133.28 million in 2021, compared with EGP 185.95 million a year earlier.
As for the separate financials, the company generated EGP 63.35 million in profits in 2021, down from EGP 93.59 million in the previous year.
