Egypt: El Arabia for Land Reclamation becomes profitable in Q1 FY2024/25

Net profits after tax hit EGP 1.667mln in the three-month period ended September 30th, 2024

Staff Writer, Arab Finance

January 6, 2025

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Egypt - El Arabia for Land Reclamation turned to profits during the first quarter (Q1) of fiscal year (FY) 2024/2025, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on January 5th.

Net profits after tax hit EGP 1.667 million in the three-month period ended September 30th, 2024, versus net losses after tax worth EGP 4.959 million in the same period of FY 2023/2024.

The company generated revenues of EGP 15.587 million in Q1 FY 2024/2025, down from EGP 23.815 million in Q1 FY 2023/2024.

Founded in 1964, the public shareholding company 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.

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