Al-Fanar Construction posts 34% YoY decline in H1 profit: Egypt

Al-Fanar Construction posts 34% YoY decline in H1 profit: Egypt

Al-Fanar Company for General Contracting, Construction, Trade, Import and Export (FNAR) reported a 34% year-on-year (YoY) decrease in net profits after tax for the first half (H1) of 2023, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on August 13th.

The company recorded a net profit after tax of EGP 4.726 million in H1 2023, down from EGP 7.173 million in H1 2022.

Moreover, the company’s revenues amounted to EGP 47.955 million in H1 2023, compared to EGP 34.549 million in the same period last year.

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