The consolidated financial statements of Giza General Contracting and Real Estate Investment Company showed a decline in the company’s profits by 33% during the first quarter of this year.

 

The company explained in a statement to the stock exchange today that it achieved profits amounting to 15.63 million pounds during the period from January to the end of March 2024, compared to profits amounting to 23.2 million pounds in the comparative period last year.

 

The company's activity revenues declined during the period to 201.79 million pounds, compared to revenues amounting to 286.67 million pounds.

At the level of the company's independent business, it achieved profits amounting to 18.18 million pounds during the first quarter of this year, compared to profits amounting to 24.9 million pounds in the comparative period of 2023.

 

Giza General Contracting and Real Estate Investment Company previously achieved a net profit of 58.615 million pounds during 2023, compared to profits amounting to 61.034 million pounds during the previous year 2022, taking into account minority rights.