The Clap
Madinet Nasr’s (MNHD) profit increased by 1.4% in H1 2022, reaching EGP 237 million, while revenues increased by 101.1%, reaching EGP 1.8 billion.
Contract Sales Doubled
The company recorded a 117.3% increase in contract sales, reaching EGP 3.3 billion. The company justified this increase due to the launch of Taj Ville, in addition to the sale of completed units. This led to a record number of sales in Q2 2022.
Explanation for Revenue Increase
During Q2 2022, the unit delivery rate increased by more than double, reaching 832 units. This was due to the delivery of units in the project “Sarai”.
For the full earnings release, click here.
MNHD revenues double in 6 months 🏠
