Pioneers Properties for Urban Development (PRDC) posted a 49.7% year-on-year (YoY) increase in consolidated profits attributable to the holding company during the first half (H1) of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on August 23rd.

The company’s consolidated profits excluding minority interest rose to EGP 109.100 million in H1 2023 from EGP 72.879 million in H1 2022.

Consolidated revenues jumped 15.07 % YoY to EGP 2.768 billion in H1 2023 from EGP 2.406 billion.

Moreover, the company’s standalone net losses after tax dropped 41.62% to EGP 35.518 million in H1 2023 from EGP 60.840 million in the same period last year.

Founded in 2021, Pioneer Properties for Urban Development is an Egypt-based company primarily engaged in real estate development, investment, and construction activities.

Copyright © 2022 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).