The board of Utopia Real Estate Investment and Tourism (UTOP) endorsed financial results for H1-14, which showed EGP 802.5 thousand net profit, with an increase by 42% compared with EGP 565.7 thousand net profit in H1-13.
Q1 financial statements had shown a fall in net profit by 62% to EGP 282 thousand, compared with EGP 748 thousand net profit in the same period a year earlier. The company’s FY13 net profit had dived 94% to EGP 126.6 thousand, from EGP 2.13 million a year earlier.