Arclam records 21% YoY increase in FY net profit
Updated 9/30/2020 1:04:00 PM
ArabFinance: The Arab Company for Land Reclamation (Arclam) (EALR) achieved a Year on year (YoY) growth of 21% in net profit after tax during the fiscal year (FY) ended on June 30th 2020, according to a disclosure to the Egyptian Exchange.
Arclam achieved a profit of EGP 760,531 in FY 2019/2020, compared to EGP 627,809 in FY 2018/2019.
Sales, meanwhile, posted a YoY decline of 59% to EGP 79.07 million in the FY ended on June 30th from EGP 194.08 million.
Arclam previously announced a net loss of EGP 3.80 million in the first nine months of FY 2019/2020.
