Arab Developers’ profit soars 235% YoY in H1: Egypt

Arab Developers’ profit soars 235% YoY in H1: Egypt

Arab Developers Holding (ARAB) posted a 235.42% year-on-year (YoY) surge in consolidated net profit attributable to the parent company during the first half (H1) of 2023, recording EGP 52.954 million, from EGP 15.787 million, according to the financial results filed to the Egyptian Exchange (EGX) on August 15th.

The company’s sales surged to EGP 687.107 million in H1 2023 from EGP 467.990 million in H1 2022.

The firm achieved standalone net profits after tax amounting to EGP 69.502 million during the January-June period of 2023, versus net losses of EGP 2.387 million in the first six months of 2022.

Established in 2015, Arab Developers is a leading real estate developer in Egypt that has a diversified business portfolio.

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