Emaar Misr Q1 profits jump 113.7%

Emaar Misr, the Egyptian unit of UAE property conglomerate Emaar Properties, reported on Sunday a 113.73 percent growth in profits for the first quarter of the year.

Profits recorded 529.12 million Egyptian pounds ($33.8 million) throughout the first three months of 2021, up from 247.56 million pounds for the same period last year, according to Emaar Misr’s bourse filling.

Revenues also increased to 1.54 billion pounds for the first quarter in 2021 from 242.21 million pounds for the same period last year.

The company also revealed in another bourse filling its standalone financial results, saying its quarterly profits of 529.12 million pounds in the first quarter of 2021, compared with 247.56 million pounds in the first quarter of 2020.