Real Estate Egyptian Consortium (AREH) reported a 29.05% year-on-year (YoY) decline in net profit after tax during the first six months of 2022, according to the financial statement filed to the Egyptian Exchange (EGX) on August 21st.

The company’s net profit shrank to EGP 8.847 million in the six-month period ended June 30th from EGP 12.47 million in the same period a year earlier.

However, operating revenue surged to EGP 22.372 million in the January-June period from EGP 14.798 million in the year-ago period.

Real Estate Egyptian Consortium is an Egypt-based public shareholding company engaged in the real estate investment sector.

The company focuses on real estate development and general building contracts, such as the construction of hotels and touristic villages, and housing complexes, among others.

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