Arab Finance: General Company for Land Reclamation, Development, and Reconstruction (AALR) recorded a 39.38% year-on-year (YoY) decrease in net loss during the first three months of the fiscal year (FY) 2023/2024, according to financial indicators filed to the Egyptian Exchange (EGX) on November 7th.

The company’s net loss after tax hit EGP 3.136 million in July-September down from EGP 5.173 million the year before.

Revenues dropped to EGP 11.999 million in the three months to September 30th from EGP 13.754 million a year earlier.

General Company for Land Reclamation is an Egypt-based company engaged in the real estate development sector. The company focuses on the reclamation and farming desert and port lands for third parties or the sale of them to investors.

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