Cairo for Investment’s profits rise 18% in three months

Cairo for Investment and Real Estate Development reported on Wednesday an 18 percent increase in its profits to 62.87 million Egyptian pounds ($3.5 million) during the first quarter of its financial year 2018/2019.

The company’s financial year starts from September until the end of August of each year.

Earlier, profits stood at 53.36 million pounds during the first quarter of financial year 2017/2018.

Revenues rose 31.5 percent to 152.8 million pounds from 152.8 million pounds.

Standalone revenues fell 7.8 percent to 10.5 million pounds against 11.4 million pounds.