Final Results

18 Feb 2019 09:14

RNS Number : 3456Q

Madinet Nasr for Housing & Develop.

18 February 2019

MNHD Summary Financial Results for year ended 31 December 2018
Separate Financial Statements (unaudited)
Financial Indicators
		Amounts in Egyptian Pounds
Statement of Income for Period from 1 Jan 2018 to 31 Dec 2018
	Year Ended	Year Ended	Change
	31-Dec-18	31-Dec-17	%
Revenues	2,380,532,841	2,118,863,167	12.35%
Gross Profit	1,686,435,891	1,547,943,740	8.95%
Gross Profit Margin	70.84%	73.06%	-3.03%
Net Profit Before Tax	1,368,625,178	1,211,791,425	12.94%
Net Profit After Tax	1,069,653,619	943,297,203	13.4%
Basic EPS	0.80	0.71	12.68%


Statement of Financial Position as of 31 Dec 2018
	31-Dec-18	31-Dec-17	Change %
	31-Dec-18	31-Dec-17	Change %
Net Working Capital	4,011,945,398	2,492,185,527	60.98%
Total Shareholders' Equity	3,334,777,952	2,360,289,333	41.29%
Paid-in Capital	1,200,000,000	997,100,389	20.35%
Statutory Reserve	170,478,648	123,313,788	38.25%
Retained Earnings	894,645,685	296,577,953	201.66%
Net Profit for the year	1,069,653,619	943,297,203	13.4%


Statement of Cash Flows
	Year Ended	Year Ended	Change
	31-Dec-18	31-Dec-17	%
Cash Flows from Operations	332,839,749	-160,644,362	307.19%
Cash flows used in Investment	-93,850,092	-24,998,731	275%
Cash Flows (used in)/from Finance	46,293,817	82,206,493	-43.69%

MNHD Summary Financial Results for year Ended 31 December 2018
Consolidated Financial Statements (unaudited)
Financial Indicators
			Amounts in Egyptian Pounds
Consolidated Statement of Income for Period from 1 Jan 2018 to 31 Dec 2018
	Year ended			Year ended		Change
	31-Dec-18			31-Dec-17		%
Revenues	2,782,727,509			2,428,257,956		14.6%
Gross Profit	1,790,378,992			1,587,725,282		12.76%
Gross Profit Margin	64.34%			65.39%		-1.6%
Net Profit Before Tax	1,428,262,936			1,202,716,847		18.75%
Net Profit After Tax	1,110,376,648			933,053,186		19%
Basic EPS	0.82			0.84		-2.38%

Statement of Financial Position as of 31 Dec 2018
	31-Dec-18			31-Dec-17		Change %

Net Working Capital	4,194,055,726			2,608,530,257		60.78%
Total Shareholders' Equity	3,469,440,127			2,454,598,641		41.34%
Paid-in Capital	1,200,000,000			997,100,389		20.35%
Statutory Reserve	170,478,648			123,313,788		38.25%
Retained Earnings	918,233,758			332,036,186		176,55%

Statement of Cash Flows
		Year Ended		Year Ended	Change
		31-Dec-18		31-Dec-17	%
Cash Flows from Operations		271,856,658		-186,830,517	245.51%
Cash flows used in Investment		-20,924,733		-26,099,473	-19.82%
Cash Flows (used in)/from Finance		46,115,935		81,569,109	-43.46%

Summary of Board of Directors Decisions

MNHD BOD has convened on Sunday 17 February 2019 and has concluded the following decisions:

1. Ratified of the minutes of prior Board meeting

2. Discussed and approved the un-audited financial statements, report of the audit committee, and draft report of the BOD's on application of the corporate governance rules according the governance guide issued by the Egyptian Financial Regulatory Authority (FRA) for the year ended 31 December 2018. The financial statements are pending issuance of the auditors' report thereon; which is expected to be unqualified audit opinion.

3. Appointed Director Mr. Yasser Kamel El Malah as independent member of the audit committee.

4. Approved the recommendation of the audit committee to approve the memo presented by the Finance Sector regarding the compliance with EGX revised listing rules.

5. Authorized the Chairman of the Board to invite the shareholders to the Annual General Meeting (AGM) and Extraordinary General Meeting (EGM)

6. Discussed other ordinary business-related subjects.

The above represents all material information required for disclosure according to the Capital Market Law, its executive regulations, and implementation directions thereof.

Investors Relations

17 February 2019

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END

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