Wadi Kom Ombo continues in business, reduces retained loss
Updated 11/5/2020 12:15:00 PM
ArabFinance: Wadi Kom Ombo Land Reclamation (WKOL) said its shareholders agreed, at the October 24th extraordinary general meeting, during their October 24th, to continue in business despite the challenges, according to a disclosure to the Egyptian exchange.
The firm has reserves exceeding EGP 46.09 million and a capital gain of EGP 444,250 as well as fixed assets with a market value higher than its book value, Wadi Kom Ombo elaborated.
The stakeholders gave a green light for decreasing the retained loss by EGP 22.95 million to EGP 93.88 million, the company added.
During fiscal year 2019/2020, the firm recorded a net profit after tax of EGP 23.40 million.
