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El Arabia Land Reclamation turns to loss, incurs EGP7 mln in FY13/14

El Arabia Land Reclamation turns to loss, incurs EGP7 mln in FY13/14
El Arabia for Land Reclamation posted EGP 7 million net loss for the fiscal year that ended on June 30, 2014, against EGP 437.7 thousand net profit a year earlier.
Financial statements for the nine-month period from July 1 , 2013 to March 31 , 2014 showed EGP 6.7 million net loss , compared to EGP 6.6 million logged in the same period a year earlier , with increase by 3%.
The company's H1-FY13/14 loss narrowed to EGP 1.93 million, compared to EGP 2.549 million losses incurred in the same period a year earlier.