Nasr City full-year net profit down 25 pct

Reuters
1 Min Read

Egyptian developer Nasr City Housing posted a 25 percent fall in full-year net profit, the bourse said on Tuesday.

The formerly state-run company, now about 30 percent owned by Beltone Financial’s private equity arm, posted a net profit of LE 86.3 million ($15 million) for the year to end-June.

Nasr City shares closed 1.8 percent lower on Tuesday, while Egypt’s benchmark index was little changed.

 

 

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