Zahraa Maadi reports 1.3% YoY profit uptick in 9 months: Egypt

Zahraa Maadi Investment and Development’s (ZMID) net profits after tax inched up by 1.27% year-on-year (YoY) during the first nine months of 2023, according to the financial indicators filed to the Egyptian Exchange (EGX) on November 12th.

The company’s net profits after tax rose to EGP 219.016 million from January through September from EGP 216.266 million in the same period a year before.

Zahraa Maadi is an Egypt-based public shareholding company engaged in real estate development, construction, contracting, urbanization, housing, and tourism, as well as other investment activities.

The listed firm is involved in the construction and development of residential and commercial buildings, as well as the purchase, sale, and reclamation of lands and properties.