ALICO’s profits soar 91% YoY in H1

Updated 8/15/2023 2:20:00 PM
ALICO’s profits soar 91% YoY in H1

Arab Finance: Arab Real Estate Investment Company’s (ALICO) (RREI) net profits after tax and non-controlling interest surged 90.8% year on year (YoY) in the first half (H1) of 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on August 15th.

The company’s net profits after tax recorded EGP 6.118 million during the January-June period, up from EGP 3.206 million during H1 2022.

Sales hiked to EGP 44.409 million in H1 2023 from EGP 28.942 million in H1 2022.

Founded in 1991, ALICO offers real estate brokerage services; engineering, procurement, and construction for residential and heavy projects.

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