Egypt’s state-run Heliopolis Housing profits fall 55% in H1-FY2017/18

Egypt’s state-owned Heliopolis Company for Housing and Development reported Monday a 55 percent drop in its profits to reach 59.2 million Egyptian pounds ($3.3 million) during the first half of financial year 2017/2018.

Earlier, profits stood at 132.2 million pounds during the first half of financial year 2016/2017.

Revenues rose to 309.7 million pounds, compared with 294.1 million pounds.