Egypt - Arab Developers Holding has maintained strong financial performance in the third quarter (Q3) of 2024. It sold 323 units worth EGP 1.77bn, compared to 532 units worth EGP 1.355bn in the same period last year. Additionally, the company delivered 42 units worth EGP 1.069bn, compared to 72 units worth EGP 185m in the previous year.

The company’s operational results reflected revenues reaching EGP 1.069bn in Q3 2024, up from EGP 185m in Q3 2023, marking a 577% growth. The gross profit reached EGP 408m, compared to EGP 105m in the previous year, representing a 388% increase. Net profit after tax stood at EGP 237m, compared to EGP 36m, reflecting a growth rate of 654%.

Over the nine months ending on September 30, 2024, Arab Developers Holding achieved sales of EGP 3.788bn, with gross profit reaching EGP 542m, up from EGP 309m in the corresponding period of the previous year, representing 176% growth. Net profit after tax was EGP 225m, compared to EGP 90m, marking a 251% increase.

Ayman bin Khalifa, CEO, and Managing Director of Arab Developers Holding, stated: “The company intends to boost sales levels further while offering a flexible package of varied payment options and addressing the challenges posed by fluctuating input costs, which will help sustain the company’s growth rates and achieve better results by year-end. At the same time, the company is exploring new investment opportunities, aiming to select the most viable ones to start working on from next year.”

Arab Developers Holding’s issued and paid-up capital is approximately EGP 772.4m, distributed over 7.7 billion shares with a nominal value of EGP 0.1 per share. As of September 30, 2024, the company’s total equity amounted to approximately EGP 1.8bn, with a book value per share of EGP 0.23.

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