Emaar Misr for Development (EMFD) delivered a stellar financial performance in the first half of 2024, with consolidated net profits soaring to EGP 7.64 billion—more than double the EGP 3.48 billion recorded in H1-23. Despite a marginal year-on-year dip in net revenues to EGP 5.60 billion (from EGP 5.69 billion), the company’s profitability metrics shone brightly. Basic and diluted earnings per share (EPS) surged to EGP 1.64, up from EGP 0.74, reflecting robust earnings growth. Total assets also climbed sharply to EGP 98.61 billion by June 2024, compared to EGP 87.22 billion at the end of 2023. On a standalone basis, net profits after tax jumped to EGP 7.50 billion, a significant leap from EGP 3.48 billion in the prior-year period. Q2-24 saw consolidated profits hit EGP 1.91 billion (vs. EGP 1.26 billion in Q2-23), with EPS rising to EGP 0.40 from EGP 0.26. Net revenues for the quarter grew to EGP 4.03 billion from EGP 3.82 billion. Meanwhile, Q1-24 profits surged to EGP 5.73 billion, up from EGP 2.22 billion in Q1-23.