Al Khair River’s standalone profit falls 53.7% YoY in Q1
Updated 5/29/2023 9:00:00 AM
Arab Finance: Al Khair River for Development Agricultural Investment and Environmental Services (KRDI) posted a 53.74% year-on-year (YoY) increase in standalone net profit after tax for the first quarter (Q1) of 2023, according to the firm's financial statement filed to the Egyptian Exchange (EGX) on May 29th.
The company recorded a standalone net profit after tax of EGP 3.250 million in Q1 2023, compared to EGP 2.114 million in Q1 2022.
Standalone revenues climbed 38.49% YoY, hitting EGP 25.529 million during the January-Mach period of 2023, compared to EGP 18.434 million in the same period a year earlier.
Al Khair River is an EGX-listed company since December 29th 2021 that operates in a number of major sectors, including land reclamation, provision of equipment and facilities to lands, and planting reclaimed lands using modern irrigation methods, in addition to livestock and poultry farming.
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