El Obour Real Estate turns into profitability, H1 net profit hit $36K

Egypt’s El Obour Real Estate Investment (OBRI.CA) turned into profits during the first half of the year, a bourse statement revealed.

The company posted first half net profit worth 321,000 Egyptian pounds ($36,147), opposed to a net loss of 2.2 million pounds for the year-ago period.

In the first quarter, net profit fell 15.18 percent y-o-y to 425,300 pounds.