Arclam’s profit falls 5.2% YoY in FY 2021/2022
Updated 9/14/2022 3:18:00 PM
Arab Finance: Arab Company for Land Reclamation (Arclam) (EALR) reported a 5.28% drop in net profit after tax in fiscal year (FY) 2021/2022, according to the financial statement filed to the Egyptian Exchange (EGX) on September 14th.
The company recorded a net profit after tax of EGP 1.198 million FY 2021/2022, compared to a profit of EGP 1.265 in FY 2020/2021.
Revenues surged to EGP 163.074 million in FY 2021/2022 from EGP 102.127 million in the FY before.
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.
