Cairo for Investment and Real Estate Development (CIRD) has reported a 17.2% year-on-year (YoY) drop in its consolidated net profits after tax and non-controlling interest in the nine months ended on May 31st, recording EGP 350.585 million, compared to EGP 423.563 million, as per a disclosure on July 18th.

The firm earned EGP 2.006 billion in consolidated revenues from September 2022 to May 2023, up from EGP 1.464 billion over the same period a year earlier.

Meanwhile, standalone net profits after tax saw a 22.1% annual decrease to EGP 266.855 million during the nine-month period, versus EGP 342.642 million in the same months of the prior year.

Standalone revenues came in at EGP 520.936 million, seeing a yearly increase from EGP 287.615 million.

CIRD is engaged in investment in diversified sectors, including education, construction and real estate, health care, information technology, and support services.

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