ArabFinance: Arab Company for Land Reclamation (Arclam) (EALR) reported a net loss after tax of EGP 825,370 during the first nine months of the fiscal year (FY) 2021/2022, compared to a net profit of EGP 476,391 in the same period a year earlier, according to a filing to the Egyptian Exchange (EGX) on Wednesday.

Revenues surged to EGP 112.122 million from EGP 59.874 million the year before from July 1^st 2021 until the end of March 2022.

Arclam 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 in the coastal and desert areas.