Cairo – Mubasher: The net profits of Emerald Real Estate Investment slid by 27.15% to EGP 19.05 million in 2020, compared to EGP 26.15 million a year earlier.
Revenues retreated to EGP 50.62 million last year from EGP 59.32 million in 2019, the company said in a bourse disclosure on Tuesday.
The company’s board of directors recommended distributing bonus shares worth EGP 25 million for 2020’s earnings. The issuance will be made over two distributions worth EGP 12.5 million each.
In addition, the board decided to allocate EGP 20.76 million as retained earnings.
During the first nine months of 2020, the company posted net profits of EGP 12.61 million, down from EGP 23.32 million in the corresponding period a year earlier.
