Heliopolis Housing profit and revenue drop as sales plummet

EARNINGS WATCH- Real estate company Heliopolis Housing’s net profit was down 88.6% in 1Q2018-2019 to EGP 8.7 mn from EGP 76.9 mn in the same quarter last year, it said in a statement on the EGX (pdf). The company’s revenues declined 10% to EGP 193.8 mn in the same period.