PIONEERS PROPERTIES FOR URBAN DEVELOPMENT(PREDCO)
PRDC
Financial ResultsPositive News
Pioneers Properties Soars to EGP 1.2B Consolidated Profit in 2024 Amid Revenue Shifts
Pioneers Properties reports a significant profit surge in 2024 despite declining revenues, with notable growth in standalone earnings.
April 6, 2025 at 12:18:00 PMScore: 88
Pioneers Properties for Urban Development reported a staggering 126% year-on-year surge in consolidated net profits after tax, hitting EGP 1.26 billion by December 2024. Earnings per share (EPS) skyrocketed to EGP 1.06 from EGP 0.39 in 2023, reflecting robust profitability. However, consolidated revenues dipped to EGP 4.99 billion from EGP 5.78 billion in 2023. On a standalone basis, net profits surged to EGP 580.1 million from EGP 159.52 million, with EPS climbing to EGP 0.48 from EGP 0.15. Revenues for standalone operations jumped to EGP 836.75 million from EGP 351.28 million. For the nine-month period ending September 2024, consolidated profits reached EGP 1.47 billion, while standalone profits hit EGP 1.28 billion.
Recommended Actions
- Monitor stock for post-earnings volatility
- Consider buying on dips if revenue trends stabilize
- Check dividend policy adjustments
- Compare with peer performance in Egyptian real estate sector
- Set price alerts near EGP 3.15 resistance level
Positive Aspects
- 126% profit growth
- EPS tripling in consolidated results
- Standalone revenue surge
Negative Aspects
- Declining consolidated revenues
- Potential market saturation concerns
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