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FINANCIAL NEWS
Egypt’s MNHD profits reach EGP1.4bn, EGP730mn amid 11 months
14 Dec 2016
(MENAFN) Madnet Nasr Housing and Development, an Egyptian real estate development firm proclaimed its management account for 11 months ending 30 Nov.
Accordingly, the firm’s revenues for the cited period reached EGP1.4bn, as net incomes after tax with net profit margin of 52 percent recorded EGP730mn.
In addition, the increase in revenues and profits is attributed to the increase in contracted sales in the second half of the year.
Moreover, the company has sold its whole inventor of Sara9 and Taj City and is preparing for new launches in Feb or March in the coming year.
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