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General Company for Land Reclamation’s 9-month loss shrinks

General Company for Land Reclamation’s 9-month loss shrinks

ArabFinance:  General Company for Land Reclamation, Development, and Reconstruction (AALR) reported a 86% Year on Year decline in its net loss for the first nine months of the fiscal year (FY) 2019/2020, according to the company’s financial statements filed to the Egyptian Exchange on May 10th.

Net loss reached EGP 301,526 in ended March 2020, a decrease from EGP 2,136,124 incurred in the corresponding period.

In 2019, the company suffered an after-tax loss of EGP 737,000, a decline from EGP 12.369 million in 2018.

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.

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