Egyptian Real Estate Group H1/2012 Profits Hit EGP 2.9 Mln

The Egyptian Real Estate Group (AREH:CA) has posted standalone profits of EGP 2.924 million during the first half of the current fiscal year, 37.44% higher than a year earlier. Noting that the company had posted net profits of EGP 2.127 million the first half of 2011.

The revenues dropped to reach EGP 1.782 million during H1/2012, compared to EGP 2.413 million during H1/2011.

During H1/2012, the gross profits – after excluding revenues – fell by 14.31% to reach EGP 1.195 million, compared to EGP 1.395 million during H1/2011.