General Company for Land Reclamation’s losses plunge 46.8% YoY in FY2022/23

Updated 10/15/2023 9:57:00 AM
General Company for Land Reclamation’s losses plunge 46.8% YoY in FY2022/23

Arab Finance: General Company for Landing Reclamation (AALR) posted a net loss after tax of EGP 30.180 million during fiscal year (FY) 2022/2023, down by 46.86% year-on-year (YoY) from EGP 56.793 million, according to the audited financial statement filed to the Egyptian Exchange (EGX) on October 15th.

Sales climbed 300.208% YoY to EGP 135.421 million in FY 2022/2023, from EGP 45.109 million a FY earlier.

General Company for Land Reclamation is an Egypt-based company engaged in the real estate development sector. The company focuses on the reclamation and farming desert and port lands for third parties or the sale of them to investors.

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