General for Land Reclamation's profits sink 107% by end of December

Updated 2/9/2017 4:21:14 PM

Arab Finance: General Company for Land Reclamation, Development & Reconstructions (AALR)  announced in a statement sent to EGX, the Board of Directors was held on February 8.

The company's BoD approved unaudited financial results for the fiscal period ending December 2016, which revealed posting net profits of LE753 thousand, against net losses of LE11.103 million a year earlier, representing 106,782% decrease. 

The Exchange differences did not affect the firm’s financial results ending December 2016, General for Land Reclamation stated.