Egypt: Utopia’s profits down 13% YoY in 9 months

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Utopia is a public company that operates within the real estate sector focusing on diversified real estate activities

Staff Writer, Arab Finance

November 5, 2024

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Egypt - Utopia for Real Estate and Tourism Investment (UTOP) recorded a 12.6% year-on-year (YoY) decline in net profits after tax during the first nine months of 2024, according to the financial indicators.

The company’s net profits after tax came in at EGP 12.51 million in the nine-month period, down from EGP 14.313 million in the corresponding period last year.

Meanwhile, revenues fell to EGP 20.172 million from EGP 22.126 million.

Established in 1999 and listed in 2009, Utopia is a public company that operates within the real estate sector focusing on diversified real estate activities.

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