Utopia Profits surge by 518% in H1

Utopia Real Estate Investment and Tourism’s net profits hiked by 518.87% in the first half of 2015, as it hit EGP 4.96 million (US$625,782) compared with EGP 411,260 for the same period of 2014.

According to company’s financial statements, the gross income surged 194.2% to EGP 3.5 million in H1-2015, compared with EGP 1.1 million for the similar period of the previous year.

The Egyptian listed firm saw net profits of EGP 355,500 for the first quarter of 2015, compared with EGP 281,900 for the corresponding period of the previous year.

Utopia Real Estate Investment and Tourism SAE is an Egypt-based company engaged in the real estate and tourism sectors. It focuses on the real estate investment, engineering consultation and design, land division, urban planning, contracting, construction of hotels and tourist shops, and other tourist related activities.