Wadi Kom Ombo’s profits decrease 19% YoY in 9 months
Updated 11/10/2022 11:25:00 AM
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Arab Finance: Wadi Kom Ombo for Land Reclamation Company recorded an 18.85% year-on-year (YoY) decline in net profit after tax during the first three months of the fiscal year (FY) 2022/2023, according to financial statement filed to the Egyptian Exchange (EGX) on November 10th.
The company’s net profit after tax declined to EGP 5.406 million in July-September from EGP 6.662 million the same quarter a FY earlier.
Net operating revenue rose to EGP 36.335 million in the three months ended September 30th from EGP 28.155 million in the same period a year before.
Wadi Kom Ombo is an Egypt-based company that is engaged in the real estate development sector.
The company is involved in land reclamation, real estate development, and general contracting services, such as selling and purchasing land for building and agriculture. It operates it for its account and third parties.
