Egypt: Wadi Kom Ombo sees 69% YoY profit increase in FY2023/24

Agence France-Presse (AFP)

Operating revenues grew to $2.88mln

Staff Writer, Arab Finance

September 19, 2024

PHOTO

Wadi Kom Ombo for Land Reclamation Company reported a 68.9% year-on-year (YoY) increase in net profits after tax in the fiscal year (FY) 2023/2024, the firm disclosed.

The company registered net profits of EGP 43.114 million last FY, compared to EGP 25.530 million in the prior year.

Meanwhile, operating revenues grew to EGP 139.821 million from EGP 117.846 million.

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.

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