Utopia’s profits upsurge 138.2% YoY in H1

Utopia for Real Estate and Tourism Investment (UTOP) recorded a 138.2% year-on-year (YoY) increase in net profits after tax during the first half (H1) of 2023, according to financial statement filed to the Egyptian Exchange (EGX) on August 10th.

The company’s net profit after tax stood at EGP 12.381 million in H1 2023, compared to EGP 5.198 million in the same period last year.

Revenues amounted to EGP 20.926 million in H1 2023 from EGP 9.027 in H1 2022.

Established in 1999 and listed in 2009, Utopia is a public company that operates within the real estate sector focusing on diversified real estate activities