General Company for Land Reclamation’s loss up in 6 months

Updated 1/23/2022 9:46:58 AM

ArabFinanceGeneral Company for Land Reclamation, Development and Reconstruction (AALR) incurred a net loss after tax of EGP 31.61 million in the first half (H1) of fiscal year (FY) 2021/2022, down from EGP 14.71 million in H1 FY 2020/2021, according to the company’s financial indicators filed to the Egyptian Exchange (EGX).

Moreover, revenue fell by 71.52% to EGP 12.74 million in the six-month ended December 31st 2021, from EGP 44.76 million in the year-ago period.

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.