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We have a short read to cap the long work week. We will see you Sunday, and hope you a have a lovely weekend.
Arab Dairy more than doubles its profits in 1H
Arab Dairy Products Company (Panda) recorded a 104.1% growth in consolidated net profit to EGP 103.301 million during the first half of the year, compared to the EGP 50.609 it raked in during 1H 2023.
Gross profit:
The company’s gross income rose to EGP 402 million between January and June, marking an 81.5% YoY growth rate.
Sales:
Panda’s sales saw a 60.2% YoY leap to over EGP 1.44 billion during the period, compared to EGP 899.644 million in 1H 2023
Cost of sales:
The company’s cost of sales rose to EGP 1.03 billion during the six months ending in June, compared to EGP 678.234 million in 1H 2023.
Heliopolis Housing receives participation offers for Granada City and Maryland Park
Heliopolis Housing and Development company( HELI) has begun receiving pre-qualification offers for participation in both its Granada City development and the third and final phase of its Maryland Park project.
Background:
The company’s board had rejected a plan to include participants on the Granada CIty project, noting in December that it was not interested in creating a revenue sharing system for the development. The Granada city complex spans approximately 11.1 thousand square meters, the company said earlier.
Remember, the company has been making big moves:
In July, the company announced a partnership with Madinet Masr for construction of a residential project spanning 491 feddans in New Heliopolis in eastern Cairo. The project is expected to add EGP 194.67 billion in revenues over 12 years.
And had a great 1H:
HELI saw its bottom line grow a whopping 5582% YoY rise in the first half of the year to EGP 1.389 billion, compared to EGP 24.611 million in the same period the year before. Its revenues also rose 185% YoY during the first half of the year to EGP 736.7 million.
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