El-Shams Housing profits slide 25 percent
The net profits of Al-Shams Housing and Development totaled 8.04 million Egyptian pounds ($1.73 million) in the financial year 2001. This constitutes a 25 percent drop compared to the EP10.79 million posted the previous year.
The Egyptian company attributed the profit fall to a 37 percent drop in sales, amounting to EP11.27 million in FY2001. At the same time the company’s expenditures dropped 11 percent to EP7.36 million, reported Al-Gomhuria. The company’s annual general meeting is scheduled to be held March 30, 2002. — (menareport.com)
© 2002 Mena Report (www.menareport.com)