The Clap
CIRA recorded a 3.7% decline in net profit as they reported their 9 month earnings.
The Deets
CIRA has reported net income of EGP 441.06 million for the period starting from the beginning of September 2021 till end of May 2022. In the previous year, CIRA reported EGP 458.2.
Revenues had gone up from EGP 1.27 billion in 2021 to EGP 1.46 billion in 2022 due to increased enrollment in BUC university.
This increase in revenues, however, was not enough to cover the increase in operating expenses as well as covering the expansion plans of the company.
Additional information
The financial year for CIRA begins on the first of September and ends at the end of August. For the full earnings release, click here.
CIRA disappoint with 9 month earnings 👎
