ALICO’s profits jump 160.4% YoY in 9 months

Updated 11/14/2023 11:29:00 AM
ALICO’s profits jump 160.4% YoY in 9 months

Arab Finance: Arab Real Estate Investment Company (ALICO) (RREI) posted a 160.4% year-on-year (YoY) increase in net profit after tax during the first nine months of 2023, according to financial statements filed to the Egyptian Exchange (EGX) on November 14th.

The company’s net profit climbed to EGP 13.928 million in January-September from EGP 5.348 million a year earlier.

Revenue surged to EGP 51.789 million in nine months to September 30th from EGP 41.041 million the year before.

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

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