Riyadh - Mubasher: Pioneers Properties for Urban Development (PRE Group) registered an annual fall in consolidated net profits to EGP 504.22 million during the first half (H1) of 2025, versus EGP 1.33 billion.
Earnings per share (EPS) reached EGP 0.20 in H1-25, compared to EGP 1.14 in H1-24, according to the interim financial results.
The EGX-listed company posted higher operations revenues at EGP 3.27 billion as of 30 June 2025, against EGP 2.64 billion in the year-ago period.
PRE Group achieved contractual sales of nearly EGP 13.75 billion in H1-25 across its various projects in Cairo and coastal developments, higher by 20% than EGP 11.40 billion in H1-24.
Standalone Results
Pioneers Properties generated non-consolidated net profits totaling EGP 153.97 million in the January-June 2025 period, down year-on-year (YoY) from EGP 1.17 billion.
Non-consolidated revenues plummeted to EGP 223.87 million in the first six months (6M) of 2025 from EGP 1.26 billion in H1-24, while the EPS retreated to EGP 0.13 from EGP 0.98.
Financials for Q2-25
In the second quarter (Q2) of 2025, Pioneers Properties posted consolidated net profits valued at EGP 227.65 million, compared to EGP 157.06 million in Q2-24.
The revenues hit EGP 1.75 billion in Q2-25, an annual surge from EGP 980.79 million. EPS went up to EGP 0.13 from EGP 0.12.
Meanwhile, the standalone net profits increased to EGP 140.01 million in April-June 2025 from EGP 106.42 million a year earlier.
Waleed Zaki, CEO of Pioneers Properties, commented: “Our company has demonstrated resilience and a strong ability to adapt to evolving economic conditions through a balanced strategy built on well-designed and flexible sales plans, enabling us to respond swiftly to diverse market needs without compromising on growth pace or performance quality. “
“In conclusion, the strength of our assets ranging from a diversified land bank to a wide array of projects provides us with a solid foundation to confront challenges and seize promising opportunities,” Zaki added.
In the 12-month period that ended on 31 December 2024, Pioneers Properties logged higher consolidated net profits after tax at EGP 1.26 billion, compared with EGP 556.97 million in 2023.
