Wadi Kom Ombo reports 15% profit decrease
Updated 5/18/2020 3:56:00 PM
ArabFinance: Wadi Kom Ombo Land Reclamation (WKOL) reported a 15% Year on Year decline in its net profit in the first nine months of the fiscal year (FY) 2019/2020, according to the company’s May 18th financial statements filed to the Egyptian Exchange.
Net profit reached EGP 19,204,652 ended March 31st, compared to from EGP 22,509,969 achieved in the corresponding period.
In March, the company projected the work volume will amount to EGP 107,277,000 for the Fiscal Year (FY) 2020/2021.
Moreover, the company's board of directors approved the FY2020/2021 budget, targeting a net surplus of EGP 12,638,000.
Wadi Kom Ombo is an Egypt-based company that is engaged in the real estate development sector. The company is involved in the land reclamation, real estate development and general contract services, such activities as sale and purchase of land for building and agriculture, and operates it for its own account and third parties.
