Arab Finance: Arab Company for Land Reclamation (Arclam) reported a net loss after tax of EGP 12.689 million during the first nine months of the fiscal year (FY) 2022/2023, soaring by 1,437.47% year on year (YoY) from EGP 825,370 in the same period a year earlier, according to a filing to the Egyptian Exchange (EGX) on May 30th.
Revenues surged to EGP 127.409 million during the July 2022-March 2023 period from EGP 112.122 million.
Arclam is active in land reclamation and division; real estate purchase, sale, and development; housing development and management of coastal, inland, and agricultural properties, and general contracting in the coastal and desert areas.