Cairo for Investment profits rise 95% in FY2017/18

Cairo for Investment and Real Estate Development (CIRA) reported on Sunday a 95 percent increase in its profits to 126.37 million Egyptian pounds ($7 million) during the financial year 2017/2018.

Earlier, profits stood at 64.8 million pounds during the financial year 2016/2017.

Revenues rose to 517.4 million pounds from 349.3 million pounds last year, according to the company’s financial statements.

Standalone profits jumped to 61.4 million pounds, compared with 39.08 million pounds.