Cairo – Mubasher: Heliopolis Housing and Development Company said that the extraordinary general assembly will discuss, on November 18, the consideration of converting the non-current asset (Suez Canal Bank – Baghdad Street) into a current asset.
The company added, in a statement to the Egyptian Stock Exchange, today, that the association will discuss the consideration of converting the inventory presented for similar cases with non-current assets into current assets.
The Ordinary General Assembly, scheduled to be held on the same day, will discuss consideration of distributions to shareholders, approval of the financial position and analytical accounts, and the report of the Board of Directors for the year 2020-2021.
Heliopolis Company for Housing and Development achieved profits of 180.15 million pounds during the last fiscal year, compared to profits of 365.55 million pounds in the previous fiscal year.
The company’s activity revenues fell from the last fiscal year to 574.18 million pounds, compared to revenues of 1.099 billion pounds in the 2019-2020 fiscal year.
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Heliopolis housing adjusted profits decline 51% during 2020-2021