Cairo – Mubasher: The board of Madinet Nasr Housing and Development (MNHD) agreed to change the company’s name to Madinet Masr Housing and Development.
The board members granted their approval for the rebranding during their meeting that was held on 6 April 2023, according to a bourse filing.
Last year, the EGX-listed firm logged consolidated net profits after tax worth EGP 736.73 million, higher by 160.48% than EGP 282.83 million in 2021, including non-controlling equity.
Revenues hiked by 139.25% to EGP 5.33 billion in 2022 from EGP 2.23 billion a year earlier, while the basic earnings per share (EPS) widened by 115.60% to EGP 0.30 from EGP 0.14.
As for the standalone business, the company generated EGP 747.43 million in non-consolidated net profit after tax as of 31 December 2022, a 164.45% year-on-year (YoY) surge from EGP 282.63 million.
