Cairo – Mubasher: Madinet Masr Housing and Development generated EGP 1.35 billion in consolidated net profit after tax and non-controlling interest during the first nine months (9M) of 2023, a hike of 153.12% from EGP 534.20 million a year earlier.
Revenues enlarged by 50.24% to EGP 4.62 billion in 9M-23 from EGP 3.08 billion in 9M-22, according to the consolidated financial statements.
The basic earnings per share (EPS) stood at EGP 0.527 in January-September 2023, higher by 128.14% year-on-year (YoY) than EGP 0.231.
Standalone Business
The EGX-listed company achieved standalone net profits after tax worth EGP 1.35 billion during 9M-23, an annual leap of 149.17% from EGP 544.97 million.
Non-consolidated revenues widened by 48% YoY to EGP 4.44 billion as of 30 September 2023 from EGP 3 billion, while the basic EPS jumped by 123.21% YoY to EGP 0.529 from EGP 0.237.
In the first half (H1) of 2023, the consolidated net profit after tax of Madinet Masr hit EGP 580.23 million, higher by 151.05% YoY than EGP 231.12 million.
