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Ismailia Development incurs 18% loss increase

Ismailia Development incurs 18% loss increase

ArabFinance: Ismailia Development and Real Estate Co (IDRE) reported an 18% Year on Year increase in its net loss in the first half (H1) of 2020, according to the company’s August 13th financial statements filed to the Egyptian Exchange.

Net loss stood at EGP 707,822 in H1 of 2020, compared to EGP 601,218 incurred in H1 2019.

In 2019, the company incurred a net loss of EGP 1,628,743, compared to net losses of EGP 1,093,764 in the same period a year ago.

Ismailia Development is an Egypt-based company engaged in the real estate development sector. The company focuses on planning and establishing urban areas equipped with all facilities; carrying out the infrastructure of drinking water, sanitation, electricity, roads, communications and multiple garages.

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