Zahraa Maadi’s net profits reach $3.7mln in H1-23

Zahraa Maadi Investment and Development posted a 6.66% rise in net profit after tax to EGP 117.03 million during the first half (H1) of 2023, versus EGP 109.72 million in H1-22.

Revenues amounted to EGP 269.18 million in the January-June 2023 period, an annual increase from EGP 197.67 million, according to the financial results.

The basic earnings per share (EPS) climbed by 11.76% year-on-year (YoY) to EGP 0.19 in the first six months (6M) of 2023 from EGP 0.17.

During January-March 2023, the EGX-listed firm generated net profits after tax valued at EGP 76.23 million, up 1.53% YoY from EGP 75.07 million.

The sales hiked to EGP 177.69 million in Q1-23 from EGP 126.88 million in Q1-22, while the basic EPS remained unchanged at EGP 0.12.