ArabFinance: El Arabia for Land Reclamation (EALR) announced targeting net profit for the Fiscal Year (FY) 2020/2021 of EGP 1.061 million before tax-deduction.

On March 31^st, El Arabia Land Reclamation’s board of directors approved the budget for FY2020/2021.

In addition, the company projected generating EGP 113.741 million revenues and EGP 112.68 million expenditures for FY2020/2021.

EALR posted a net profit of EGP 73,456 in H1 of FY 2019/2020, compared to net profits of EGP 8,607,699 in the same period a year earlier.

El Arabia for Land Reclamation is an Egypt-based public shareholding company that operates in the engineering and construction sectors.

It 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. El Arabia for Land Reclamation Company also conducts studies and surveys for agricultural development in the coastal and desert areas.

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