HHD’s profits skyrocket 512.3% YoY in Q1
Heliopolis Housing and Development (HELI) reported a 512.36% year-on-year (YoY) leap in net profits after tax for the first quarter (Q1) of 2023, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on May 25th.
The company recorded a net profit after tax of EGP 19.413 million in the three-month period ended March 31st, compared to the profit of EGP 3.170 million recorded in the same period of 2022.
Operating revenues stood at EGP 90.918 million during the January-March period of 2023, up from EGP 63.540 million in Q1 2022.
HHD is a leading Egypt-based real estate development company that operates in land reclamation and subdivision, residential real estate development and management, property purchase and sale, and project planning and supervising. This is in addition to the construction of houses, hotels, holiday resorts, and hospitals.