ALICO reports LE11 m net profits in FY2017

Updated 4/15/2018 1:16:44 PM

ArabFinance: Arab Real Estate Investment CO.-ALICO (RREI) announced in a statement sent to EGX, the audited financial results for the fiscal period starting January 1, 2017, and ending September 30, 2017.

The company posted consolidated net profits of LE10,789,690, versus net profits of LE3,904,389 in the same period a year ago, taking into account the minority rights. 

Moreover, it posted standalone net profits of LE10,518,589, versus net profits of LE3,621,719  in the same period a year ago.

It is worth to mention, the Company board that convened on April 14, 2018, suggested delaying FY2017 profits to be exploited in ongoing projects.