In a statement, the company said that its General Assembly
met on Sunday to approve the financial statements for the fiscal year 2024. The
meeting also reviewed the balance sheet and the profit and loss account.
ACUD reported total profits before taxes of EGP 35 billion.
This reflects an increase of EGP 9 billion compared to the previous fiscal
year, marking a 35 percent rise. Total operating revenues reached EGP 48 billion.
Net profit after tax stood at EGP 26 billion. The company
paid taxes worth EGP 8.2 billion in 2024, compared to EGP 8.6 billion in 2023,
a decrease of EGP 400 million. It also paid EGP 13 million in value-added tax
(VAT) and EGP 1.3 billion in dividend tax. The total amount of taxes paid
reached EGP 9.7 billion.
According to the financial results, earnings per share were
EGP 60 for the fiscal year 2024. This represents 60 percent of the share’s
nominal value. The value of assets increased to EGP 335 billion, up from EGP
279 billion in 2023, showing a growth of about 20 percent.
The company said it is close to completing utilities across
all plots in the first phase of the New Administrative Capital. It added that
promotional and marketing campaigns are underway inside and outside Egypt.
These efforts are expected to boost future sales without adding extra costs.