UAE Emaar’s Egypt unit says 2015 profits 104.5% up

Emaar Misr, the Egyptian unit of Dubai developer Emaar Properties, has registered a 104.5 percent rise in full-year net profit during 2015, it said in a Thursday statement.

Net profit hit 854.7 million Egyptian pounds ($109.1 million) in 2015, from 417.9 million pounds ($53.4 million) in 2014.

Furthermore, revenues have reached 3.2 billion pounds approximately, up from 2.6 billion pounds in 2014, marking a 23 percent growth.