Emaar Misr for Development reports EGP 503.3 mn net profit in the first quarter (Q1) of 2018, compared to EGP 437.9 billion in the same period last year, Reuters reports.

The company’s revenues in Q1 amounted for EGP 830.7 mn, up from EGP 668.7 mn in Q1 2016.

Emaar Misr has recently elected Jamal Majid Khalfan Bin Theniyeh as the company’s new non-executive chairman.