Heliopolis for Housing Record 13.7% Profit Decline

Heliopolis for Housing and Development has achieved a net profit of EGP 108.434 million in the fiscal year which ended in the 30^th of June 2012, recording a 13.7% decline compared to a net profit amounting to EGP 125.625 million in 2011.

The revenues of this year has increased up to EGP 247.924 million, compared to EGP 209.348 million. Likewise, the cost of revenues also recorded an increase, amounting to EGP 107.696 million, compared to EGP 64.537 million.

Nevertheless, the gross profit, after deducting the cost of revenues, has decreased to EGP 140.228 million, compared to EGP 144.800 million.

The earnings per share also dived to EGP 0.97, compared to EGP 1.13 recorded in the previous fiscal year.