Egypt

MASR: Sales expectedly decline compared to land-backed 1Q20

  • 1Q21 sales reached EGP1.5 billion, down 42.1% y/y, due to 1Q20 having included the EGP1.1 billion land sale.

  • Sales drop overshadowed deliveries jump and resulted in the 46.1% y/y drop in revenue to EGP493.1 million.

  • Net profit decreased 69.7% y/y and 69.1% q/q to EGP114.5 million.

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Mayar El Ashry @ Al Ahly Pharos Securities Brokerage
May 30th, 2021
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