Cairo – Mubasher: Arab Developers Holding recorded an annual hike in consolidated net profit after tax to EGP 89.53 million during the first nine months (9M) of 2023, versus EGP 18.51 million.
Revenues increased to EGP 872.41 million in 9M-23 from EGP 689.79 million in 9M-22, according to the consolidated financial statements.
The basic earnings per share (EPS) stood at EGP 0.07 in January-September 2023, higher year-on-year (YoY) than EGP 0.02.
Total assets hit EGP 7.77 billion in 9M-23, compared to EGP 6.80 billion as of 31 December 2022.
Standalone Business
Arab Developers turned profitable at EGP 66.42 million in 9M-23, against standalone net losses after tax valued at EGP 4.22 million in the year-ago period.
Meanwhile, the basic EPS amounted to EGP 0.041 as of 30 September 2023, versus a loss per share of EGP 0.003 in 9M-22.
Financials for Q3-23
During the third quarter (Q3) of 2023, the consolidated net profits of the EGX-listed firm stood at EGP 36.15 million, compared to EGP 3.67 million in Q3-22.
The revenues plummeted to EGP 185.30 billion in Q3-23 from EGP 221.80 million a year earlier.
Non-consolidated net losses after tax soared to EGP 2.79 million in July-September 2023 from EGP 1.83 million in Q3-22.
