Al-Fanar Contracting profits jump to EGP 2 million in 9 months

Cairo- Live: Al-Fanar's financial statements for public contracting, construction, trade and import revealed that its profits increased by 3,048% year-on-year.


The company said in a statement to the Egyptian Stock Exchange, on Monday, that it recorded a net profit of EGP 2.01 million from January to the end of September, against a net profit of EGP 63.85 thousand during the same period last year.


The company's revenues increased during the first nine months of this year, registering EGP 27.3 million at the end of September, compared to EGP 7.88 million during the same period in 2020.


Al Fanar General Contracting, Construction, Trade and Import company reported a net profit of EGP 706.7 thousand from the beginning of January to the end of March, compared to a profit of EGP 39.2,000 in the same quarter last year.


The company's revenues increased during the first three months of this year to EGP 14.54 million, compared to EGP 1.15 million in the same quarter of 2020.