ALICO’s H1 net profit falls 64% YoY

Updated 8/16/2022 2:40:00 PM

ArabFinanceArab Real Estate Investment Company (ALICO) (RREI) posted a 64.07% year-on-year (YoY) drop in net profit for the first half (H1) of 2022, according to the financial income statement filed to the Egyptian Exchange (EGX) on August 16th.

Net profit reached EGP 3.20 million in H1 2022, compared to EGP 8.92 million in H1 2021.

Sales amounted to EGP 28.94 million in the first six months of 2022, higher from EGP 16.38 million in the year-ago period.

Founded in 1991, ALICO offers real estate brokerage services; engineering, procurement, and construction for residential and heavy projects.