General Company for Land Reclamation incurs loss in FY 2020/2021
Updated 9/28/2021 11:07:18 AM
ArabFinance: General Company for Land Reclamation, Development and Reconstruction (AALR) announced that its board of directors has endorsed the company’s financial results for fiscal year (FY) 2020/2021, according to a statement filed to the Egyptian Exchange (EGX).
The company has incurred a net loss after tax of EGP 26.53 million in FY 2020/2021, up from EGP 17.20 million in FY 2019/2020.
Moreover, the company’s revenue rose by 43.22% to EGP 113.87 million in FY 2020/2021 from EGP 79.51 million in FY 2019/2020.
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 sale of them to investors.
