Egypt’s Heliopolis Housing net profits fall to $23.5mn in FY2020

Egyptian Heliopolis Company for Housing and Development‘s net profits fell to 372.79 million Egyptian pounds ($23.5 million) during the 2019/2020 financial year from 376.39 million pounds a year earlier.

The state-owned company’s revenues dropped to 1.099 billion pounds during the year ended 30 June versus 1.22 billion pounds a year earlier, according to a bourse filling on Tuesday.