Cairo – Mubasher: The consolidated financial results of the United Company for Housing and Development showed an increase in profits by 38.4% during the first quarter (Q1) of the year.
The company’s profits reached EGP 29.8 million in the three months to last March, up from EGP 21.54 million in Q1-20, according to the company’s disclosure to the Egyptian Exchange (EGX).
During the same period, sales revenues grew to EGP 51.25 million, from EGP 35.98 million in the same period of last year.
United Company for Housing and Development also registered standalone profits of EGP 26.62 million in Q1-21, compared with EGP 21.9 million in Q1-20.
In 2020, the Alexandria-based real estate firm achieved EGP 105.8 million in profits.
