{"id":558415,"date":"2021-08-09T03:51:40","date_gmt":"2021-08-09T03:51:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/mnhds-consolidated-net-income-down-53-in-1h2021\/"},"modified":"2021-08-09T03:51:40","modified_gmt":"2021-08-09T03:51:40","slug":"mnhds-consolidated-net-income-down-53-in-1h2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/mnhds-consolidated-net-income-down-53-in-1h2021\/","title":{"rendered":"MNHD\u2019s consolidated net income down 53% in 1H2021"},"content":{"rendered":"

Madinet Nasr Housing and Development\u2019s (MNHD) consolidated net income fell <\/strong>53% y-o-y in 1H2021 to EGP 228.6 mn<\/strong>, down from EGP 481.9 mn the year before, according to the company\u2019s unaudited financials (pdf)<\/a>. Revenues declined 27% y-o-y to EGP 954.5 mn during the six-month period, compared to the EGP 1.3 bn recorded in H12020. The decline is in part due to an unfavorable base effect<\/a> caused by a one-time land sale that resulted in EGP 1.15 bn in proceeds in the comparable period last year. The company did not release adjusted figures to allow an apples-to-apples comparison, and the release does not include an update on new sales in 1H.<\/p>\n","protected":false},"excerpt":{"rendered":"

Madinet Nasr Housing and Development\u2019s (MNHD) consolidated net income fell 53% y-o-y in 1H2021 to EGP 228.6 mn, down from EGP 481.9 mn the year before, according to the company\u2019s unaudited financials (pdf). Revenues declined 27% y-o-y to EGP 954.5 mn during the six-month period, compared to the EGP 1.3 bn recorded in H12020. The […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[302,409,72,353,83],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558415","post","type-post","status-publish","format-standard","hentry","category-earnings-watch","tag-earnings","tag-earnings-watch","tag-enterpriseam","tag-madinet-masr-for-housing-and-development","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"dc8a6d0f-51e6-481b-a5b3-455727833665","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[558402],"teaser":"","voice_url":""},"yoast_head":"\nMNHD\u2019s consolidated net income down 53% in 1H2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/09\/mnhds-consolidated-net-income-down-53-in-1h2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MNHD\u2019s consolidated net income down 53% in 1H2021\" \/>\n<meta property=\"og:description\" content=\"Madinet Nasr Housing and Development\u2019s (MNHD) consolidated net income fell 53% y-o-y in 1H2021 to EGP 228.6 mn, down from EGP 481.9 mn the year before, according to the company\u2019s unaudited financials (pdf). Revenues declined 27% y-o-y to EGP 954.5 mn during the six-month period, compared to the EGP 1.3 bn recorded in H12020. 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Revenues followed suit with a 46% y-o-y decline to reach EGP 493.1 mn during the three-month\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":621277,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/05\/mnhd-reports-a-net-profit-of-egp-869-1-mn-in-9m2018\/","url_meta":{"origin":558415,"position":1},"title":"MNHD reports a net profit of EGP 869.1 mn in 9M2018","author":"enterpriseam admin","date":"5 November 2018","format":false,"excerpt":"EARNINGS WATCH- MNHD reports a net profit of EGP 869.1 mn in 9M2018: Madinet Nasr Housing & Development (MNHD) reported a consolidated net profit of EGP 869.1 mn in 9M2018, up 1.3% y-o-y from the same period last year, according to an MNHD earnings release on Sunday (pdf). Consolidated revenues\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555342,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/10\/earnings-watch-contact-financial-beltone-mnhd-nilesat\/","url_meta":{"origin":558415,"position":2},"title":"Earnings watch: Contact Financial, Beltone, MNHD, NileSat","author":"enterpriseam admin","date":"10 November 2021","format":false,"excerpt":"Contact Financial\u2019s net income rose 65% to EGP 114 mn in 3Q2021 from the same period in 2020, according to the company\u2019s financials (pdf) out yesterday.The results reflect growth in Contact\u2019s financing business\u2026 Contact\u2019s net income from financing across the first nine months of the year rose 60% y-o-y to\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":558508,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/15\/gb-auto-net-income-triples-in-2q-off-of-higher-revenues\/","url_meta":{"origin":558415,"position":3},"title":"GB Auto net income triples in 2Q off of higher revenues","author":"enterpriseam admin","date":"15 August 2021","format":false,"excerpt":"GB Auto\u2019s net income more than tripled to EGP 374.3 mn in 2Q2021, compared to EGP 115.8 mn in the same period last year, the company said in an earnings release(pdf). Revenues surged by 81% y-o-y to EGP 7.27 bn during the quarter thanks to improved market conditions and stronger\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":562645,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/01\/drop-in-1q-income-thanks-to-unfavorable-base-effect-mnhd\/","url_meta":{"origin":558415,"position":4},"title":"Drop in 1Q income thanks to unfavorable base effect -MNHD","author":"enterpriseam admin","date":"1 June 2021","format":false,"excerpt":"EARNINGS UPDATE- The sizable fall in Madinet Nasr Housing and Development\u2019s (MNHD) net income in 1Q2021 was due to an unfavorable base effect caused by a land sale in 2020, the company said in a press release (pdf) yesterday. MNHD\u2019s earnings statement showed that net income fell 70% y-o-y in\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":597953,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/09\/earnings-watch-edita-mnhd-report-1q2019-results\/","url_meta":{"origin":558415,"position":5},"title":"Earnings watch: Edita, MNHD report 1Q2019 results","author":"enterpriseam admin","date":"9 May 2019","format":false,"excerpt":"EARNINGS WATCH- Edita net profit increases 87.8% y-o-y in 1Q2019: High-profile snack food maker Edita recorded an 87.8% y-o-y increase in net profit for 1Q2019 to EGP 114.3 mn, according to the company\u2019s earnings release (pdf). 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