ElArabia for Land Reclamation narrows losses to LE5 m ending December

Updated 2/15/2017 11:21:50 AM

Arab Finance: El Arabia for Land Reclamation (EALR) announced in a statement sent to EGX the audited financial results for the fiscal period starting July 1, 2016, and ending December 31, 2016. 

The firm incurred net losses of LE5,093,481, versus net losses of LE6,050,017 in the same period a year ago.

The Floatation of Egyptian pound had negative impact of LE491,738 on fiscal period results, the firm stated.