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ALICO sees profit increase

ALICO sees profit increase

ArabFinance: Arab Real Estate Investment Company (ALICO) (RREI) reported a 33.5% Year on Year increase in its net profit in 2020, according to the company’s filing to the Egyptian Exchange on March 29th.

Net profit stood at EGP 6.84 million in 2020, compared to EGP 5.12 million in 2019.

During the first nine months of 2020, the company’s net profit reached EGP 12.25 million.

ALICO was founded in 1991 with an authorized capital of EGP 40 million. The company offers real estate brokerage services; engineering, procurement and construction for residential and heavy projects.

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