Cairo – Mubasher: The unaudited standalone financial statements of the Real Estate Egyptian Consortium reported a decline of 27.52% in profits during the first nine months of 2017 compared to the same period a year ago.

Earnings decreased to EGP 25.97 million in the nine-month period in 2017 compared to EGP 35.83 million in the corresponding period in the previous year, according to a bourse filing issued on Tuesday.

Real Estate Consortium’s revenues shrank to EGP 14.63 million from January to September 2017 compared to EGP 29.12 million in the same period in 2016.

It is worth highlighting that the company’s standalone income statements reported a drop of 32.7% in profits to EGP 21.76 million in the first half of 2017 compared to EGP 32.35 million in the same period in 2016.