Emaar Misr profits rise by 41% during Q1 of 2023

Egyptian property developer Emaar Misr recorded an increase in its profits during the first quarter of 2023 by 41 percent to 2.2 billion Egyptian pounds, up from 1.5 billion pounds last year.

The revenues decreased during the period from January to March by around 27 percent to a record 1.8 billion pounds, down from 2.5 billion pounds during the same time last year.

The shares went up to 47 piasters per share, up from 32 piasters during the same quarter last year. The company’s net sales went up by 59.3 percent to a record 6.563 billion pounds, compared to 4.119 billion pounds in 2021.