ARCLAM’s losses hit EGP 4.8M end-December

Updated 1/18/2023 8:42:00 AM
ARCLAM’s losses hit EGP 4.8M end-December

Arab Finance: Arab Company for Land Reclamation (Arclam) (EALR) recorded a net loss of EGP 4.855 million after tax for the period ended December 31st, 2022, according to the unaudited financial statement sent to Egyptian Exchange (EGX) on Tuesday.

This marks a decline from the loss of EGP 1.654 million reported in the same period of the past fiscal year.

It is noteworthy that the company reported a 5.28% drop in net profit after tax in fiscal year (FY) 2021/2022.

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