Aristo profit surge 40% in H106

Aristo Developers Pcl (ARD) issued its first half results posting a net profit of CYP 6.3 mln vs CYP 4.5 mln a year ago for a 39.8% YoY increase. The positive performance is attributed to an increase in revenue, up by 51% YoY to CYP 34.6 mln and an improvement in Gross Profit by 35%YoY to CYP 15.1 mln.

Operating profit were up at CYP 8 mln from CYP 6.2 mln before.

Despite an increase in operating expenses up by 44% to CYP 7.2 mln, stable finance expenses of CYP 1.98 mlnand an increase in the share of profits from consortium amounting to CYP 1 mln vs. CYP 870k a year ago, net profit surged to CYP 6.35 mln from CYP 4.55 mln with EPS up at 4.95 cent from 3.65 cent before. Total loans amounted to CYP 57.16 mln.