ElSaeed Contracting’s consolidated profit grows to $1.29mln in Q1-24

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Cairo – The consolidated net profit of ElSaeed Contracting and Real Estate Investment Company rose to EGP 61.03 million in the first quarter (Q1) of 2024 from EGP 54.67 million in the same period a year earlier.

Operaring revenues declined to EGP 701.50 million in Q1-24 from EGP 736.45 million in Q1-23, according to the interim financial results.

Standalone Financials

The company's standalone net profit increased to EGP 60.71 million in the three-month period ending on 31 March 2024 from EGP 52.23 million in the equivalent period the year before.

Standalone operaering revenue shrank to EGP 695.05 billion in the January-March period from EGP 727.93 million in the corresponding period last year.

The earnings per share (EPS) hit EGP 0.073 in Q1-24, up from EGP 0.063 in Q1-23.

In 2023, ElSaeed Contracting reported a consolidated net profit after income tax of EGP 119.08 million, up from EGP 104.01 million last year.