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El Arabia Land Reclamation turns profitable in FY14/15

El Arabia Land Reclamation turns profitable in FY14/15
Photo Credit: Arabianeye-Reuters

Cairo-Mubasher: El Arabia for Land Reclamation reported net profits of EGP 5.15 million in the fiscal year ended 30 June 2015, against losses of EGP 7 million in the previous year.

The firm said earlier it brought down its losses by 68.5% to EGP 2.1 million in the first nine months of FY14/15, compared with EGP 6.7 million for the same period of the previous year.

The company is capitalised at EGP 26 million, distributed across 5.2 million shares at EGP 5 par value each.