El Saeed for Contracting and Real Estate Investment (SSCD) (UEGC) recorded a 13.57% year-on-year (YoY) decline in consolidated net profit for the first half (H1) of 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on August 16th.

Consolidated net profits dropped to EGP 70.698 million in H1 2023, compared to EGP 81.800 million in the same period a year earlier.

The company’s consolidated revenues jumped to EGP 1.328 billion in H1 2023 from EGP 1.048 billion in H1 2022.

As for standalone financials, the company registered a standalone net profit of EGP 68.919 million during the first six months of 2023, compared to a profit of EGP 80.084 million in the same half last year.

Established in 1964, SCCD is primarily engaged in providing general and specialized contracting and construction services, including investments in real estate and properties.

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