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CAIRO, EGYPT - September 24: The Four Seasons Hotel and the Grand Nile Tower Hotel on September 24, 2017 in Cairo, Egypt. Overview photos of Cairo's buildings, cityscape and infrastructure from above taken from Cairo Tower in Zamalek. (Photo by David Degner/Getty Images) Image used for illustrative purpose.
Arab Finance: Madinet Masr reported a 36.94% year-on-year (YoY) increase in consolidated profits attributable to the parent company during 2024, the company's financial statements filed to the Egyptian Exchange (EGX) on March 20th.
Consolidated profit excluding minority interest recorded EGP 2.914 billion in the January-December period of 2024, compared to a profit of EGP 2.128 billion in 2023.
Operating revenues hit EGP 8.460 billion last year, up from EGP 8.113 billion a year earlier.
The firm’s standalone net profits after tax amounted to EGP 2.828 billion in 2024.
Established in 1959, Madinet Masr is a leading real estate developer dedicated to building large-scale communities in strategic locations across Egypt.
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