General for Land Reclamation reports 66% loss decrease
Updated 11/3/2020 2:31:00 PM
ArabFinance: General Company for Land Reclamation reported a 66% Year on Year decline in its net loss in the first three months of the fiscal year (FY) 2020/2021, according to the company’s November 1st financial statements filed to the Egyptian Exchange.
Net loss after tax stood at EGP 331,000 in the July-September period of 2020, compared to EGP 981,000 incurred in the prior-year period.
The company targeted net profits of EGP 2.050 million for the FY 2020/2021, compared to EGP 5.259 million for FY 2019/2020.
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 sale of them to investors.
