Egypt: Zahraa Maadi’s profits up in Q1-23 interim financials

Total revenues increased by 4.10% YoY

Staff Writer, Mubasher

May 31, 2023

PHOTO

Cairo – The net profits after tax of Zahraa Maadi Investment and Development grew by 1.53% to EGP 76.23 million in the first quarter (Q1) of 2023, compared to EGP 75.07 million in Q1-22.

The EGX-listed firm recorded a year-on-year (YoY) growth in sales to EGP 177.69 million during Q1-23 from EGP 126.88 million, according to the unaudited income statements.

Basic earnings per share (EPS) remained unchanged in the January-March 2023 period at EGP 0.12.

During the 12-month period that ended on 31 December 2022, Zahraa Maadi generated net profits valued at EGP 261.10 million, up 0.70% from EGP 259.37 million in 2021.

Total revenues increased by 4.10% YoY to EGP 392.07 million in 2022 from EGP 376.64 million.

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