Egypt’s Madinet Nasr Housing first-quarter revenues grow to EGP 914.9 million

Egyptian Madinet Nasr for Housing and Development’s revenues rose to 914.9 million Egyptian pounds ($57.8 million) during the first quarter of the year, announced financial statements on Sunday.

Earlier, revenues stood at 634.2 million pounds during the first quarter of 2019.

The state-run company made first-quarter net profit up to 378.1 million pounds against 328.7 million pounds during the same period of the last year.

As for standalone revenues, they climbed 40 percent to 796.5 million pounds from 570.4 million during the first quarter of 2019.