El Arabia for Land Reclamation’s profits hit EGP 519,007mn in Q1-FY2019

Egypt’s state-owned El Arabia for Land Reclamation (EALR) said on Sunday its profits reached 519,007 Egyptian pounds ($29,004) during the first quarter of financial year 2018/2019.

Earlier, losses stood at 598,006 pounds during the first quarter of financial year 2017/2018.

Revenues increased to 25.8 million pounds during the July-September period of the current financial year, compared with 12.2 million pounds during the same period of last financial year.