General Company for Land Reclamation registers 71.2% YoY higher loss in 3 months
Updated 11/9/2022 11:03:00 AM
ArabFinance: General Company for Land Reclamation, Development, and Reconstruction (AALR) recorded a 71.2% year-on-year (YoY) increase in net loss during the first three months of the fiscal year (FY) 2022/2023, according to financial indicators filed to the Egyptian Exchange (EGX) on Wednesday.
The company’s net loss after tax rose EGP 5.17 million in July-September from EGP 3.02 million the year before.
Revenues surged to EGP 13.75 million in three months to September 30th from EGP 8.577 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.
