Cairo – Mubasher: Arab Developers Holding has logged consolidated net profits after tax worth EGP 14.84 million in the first half (H1) of 2022, an annual drop of nearly 21% from EGP 71.79 million.
Sales plummeted by around 65% to EGP 467.99 million during the first six months (6M) of 2022, compared to EGP 715.16 million, according to a bourse disclosure.
The earnings per share (EPS) stood at EGP 0.01 in H1-22, lower than EGP 0.06 in H1-21.
During the second quarter (Q2) of 2022, the consolidated net profits after tax neared EGP 24 million, down 44% year-on-year (YoY) from EGP 53 million.
The consolidated revenues amounted to about EGP 281 million in the April-June 2022 period, an annual plunge of 71% from EGP 397 million.
The EPS declined to EGP 0.02 in Q2-22 from EGP 0.05 in Q2-21.
As for the standalone businesses, the company registered net losses after tax worth EGP 2.38 million in January-June 2022, lower than EGP 12.08 million in the year-ago period.
Furthermore, the loss per share stood at EGP 0.0020 in H1-22, versus EGP 0.0103 in H1-21.
In January-March 2022, Arab Developers suffered consolidated net losses of EGP 8.66 million, versus net profits worth EGP 18.85 million during the same period a year earlier.
Meanwhile, the listed firm aims to generate EGP 2.80 billion in sales from its projects during 2022.
