Egypt: Pioneers Properties profits rise by 129.5% in Q1 of 2023

Pioneers Properties for Urban Development’s profits rose by 129.5 percent in the first quarter of 2023.

The profits exceeded 102.1 million Egyptian pounds, up from 44.4 million pounds during the same quarter last year.

The company’s revenues rose by 58 percent during the first three months of the year to record 1.65 billion pounds, up from 1.04 billion pounds during the same period last year.

The company said the contracting sector contributed by 56 percent of the revenues of the first quarter this year.

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