Heliopolis Housing revenues hit LE730M in 11 months

CAIRO – 18 June 2017: The Heliopolis Housing Company posted LE 730 million in revenues and a distributable profit of LE 374 million during the period from July 2016 to the end of May 2017, a Sunday statement by the Egyptian Exchange read.

In the statement, the company said the Board of Directors approved the budget for the last fiscal year 2016/2017 which was targeting revenues of LE 873 million and profit surplus of LE 300 million.

The company exceeded the target for the fiscal year 2016/17 by LE 74 million.

Earlier in May, the company’s Ordinary General Meeting adopted the estimated budget for next fiscal year 2017/18 with a target profit of LE 372.6 million, clarifying that the company’s board targets revenues worth LE 962.19 million and a net profit of LE 372.6 million for FY2017/18.

The National Company for Constructions and Development, Heliopolis Co, includes managing, developing, purchasing, selling, as well as the construction of real estate, houses, hotels, resorts and hospital properties.