Heliopolis Housing reports 11.32% y-o-y dip in net profit in 3Q2017-18

EARNINGS WATCH- Heliopolis Housing & Development reported an 11.32% y-o-y decline in net profit after tax to EGP 120.5 mn in 9M2017-18, down from EGP 135.8 mn during the same period last year, according to a bourse filing (pdf). The company explained that the dip in net profit came as a result of a EGP 80 mn installment payment on a EGP 500 mn leasing contract.