Emaar Misr’s consolidated profits surge 74% YoY in 9 months

Emaar Misr for Development (EMFD) recorded a 74.07% year-on-year (YoY) hike in consolidated profit after minority interest during the first nine months of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on November 15th.

The company’s consolidated profit attributable to the parent company surged to EGP 4.89 billion in the nine months to September 30th from EGP 2.814 billion in the same period a year earlier.

Revenue soared to EGP 11.711 billion in January-September from EGP 7.621 billion in the year-ago period.

Furthermore, the standalone net profit after tax surged to EGP 4.9 billion in the period from January to September from EGP 2.814 billion in the same period last year.

Established in 2007, Emaar Misr is a real estate development company that operates in commercial and residential development projects such as residential villages and communities, business centers, malls, shopping complexes, villas, townhouses, and apartments.

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