Egypt’s Emaar Misr profits rise 20.8% in nine months

Emaar Misr, the Egyptian unit of UAE property conglomerate Emaar Properties, reported Tuesday a 20.8 percent growth in its nine-month profits to reach 1.75 billion Egyptian pounds ($97.5 million).

Earlier, profits stood at 1.45 billion pounds during the first nine months of 2017.

Revenues increased to 2.8 billion pounds from 2.59 billion pounds last year.

Standalone profits jumped to 1.759 billion pounds, compared with 1.456 billion pounds.

The company made net profit worth 1.1 billion pounds during the January-June 2018 period, against 976.9 million pounds during the same period in 2017.