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Rana Mamdouh
The board of directors of the investment company in real estate and tourism Utopia approved the results of unaudited financial statements for the first six months of this year, down 43.2% compared to the corresponding period.
The company said in a statement today that it had achieved a net profit of £ 1.201 million in the first six months of this year, compared to £ 2.116 million in the same period.
Turnover for the same period decreased to 2,714 million EGP, against 4,944 million EGP for the same period.
Total profit fell to 1.693 million pounds in the first six months of this year, compared to 1.766 million pounds in the corresponding period.
The basic share per share for the same period was 0.4 pounds versus 0.71 pounds for the same period.
Utopia Real Estate Investment has attributed the decline in profits for the period to the nature of the real estate business and the number of units sold by the company to customers and work done in the period following the l. completion of ongoing work on apartments, villas and shopping centers.
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