ALCO Says H1 Profits 766% Up

By Yomna Yasser On Aug 13, 2012

Arab Real Estate Investment – ALCO (RREI.CA) reported consolidated profits of EGP 2.602 million during the first half of 2012 ended on 30/06/2012, recording an increase of 766%. ALCO had a year earlier posted net profits of EGP 300.561 thousand.

Operation revenues during H1/2012 rose to EGP 2.125 million, compared to EGP 1.306 million. Gross profits, after excluding the cost of sales, hiked to EGP 1.537 million through H1/2012, compared to EGP 873.327 thousand during H1/2011.

Operation profits, after excluding the total expenses, rose to EGP 832.225 thousand during H1/2012, compared to ETG 300.591 thousand during H1/2011.

Moreover, basic earnings per share during H1/2012 reached EGP 0.011, compared to EGP 0.001 during H1/2011.