EARNINGS WATCH- Real estate company Heliopolis Housing and Development (HHD) posted net profits of EGP 351.3 mn in 2H2019, up from EGP 48.6 mn last year, according to the company’s financial statement (pdf). The company attributed the sixfold increase in profits to the sale of a plot of land to Zahraa El Maadi for Investment and Development for EGP 481 mn, according to a disclosure to the bourse (pdf). This boosted revenues to EGP 732.4 mn during the six months, up from EGP 383.3 mn in 2018. HHD has extended until February a deadline for bids to acquire a 10% stake in the company along with management rights.

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