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Wadi Kom Ombo announces work volume for FY2020/2021

Wadi Kom Ombo announces work volume for FY2020/2021

ArabFinance: Wadi Kom Ombo Land Reclamation (WKOL) announced the projected work volume for the Fiscal Year (FY) 2020/2021 is amounting to EGP 107,277,000.

on March 21st, the company's board of directors approved the FY2020/2021 budget, targeting the net surplus of EGP 12,638,000.

According to the budget for FY2020/2021, Wadi Kom Ombo anticipated revenues of EGP 28 million from expected projects expected to be assigned to the company.

On the same day, the extraordinary general assembly approved to prolong the company's life for 25 years, starting March 29 until March 28, 2045. 

The company posted net profits of EGP 16,085,936 in 2H, compared to net profits of EGP 18,543,219 in the same period a year ago.

Wadi Kom Ombo is engaged in the real estate development sector, it is involved in the land reclamation, real estate development and general contract services, such activities as sale and purchase of land for building and agriculture, and operates it for its own account and third parties. As of June 30th, 2012, the Company had one subsidiary, Wadi Kom Ombo for General Contracting. In July 2014, Holding Co for Land Reclamation & Ground Water Research acquired a 90% interest in the Company's share capital.

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