Emaar Misr for Development (EMD) reported a 36% increase in net profit to stand at EGP 2.3 bn in 2017, compared to EGP 1.68 bn the previous year, as well as a 29.5 % increase in net sales to reach EGP 10.9 bn, Invest-Gate reports.

The company’s gross profit has also increased by 6.9% to stand at EGP 1.71 bn in 2017 whereas its gross sales came in at EGP 12 bn.

The developer’s total revenues jumped to EGP 4.5 bn from EGP 4 bn in 2016 as the company has delivered 1,386 units during the year.