Cairo - Mubasher: Wadi Kom Ombo Land Reclamation reported a decline of 85% to EGP 674,000 in the net profits of the first quarter of the fiscal year 2015/16, compared with net profits of EGP 4.6 a year earlier.

The company's revenues climbed to EGP 14.3 million in Q1 FY15/16, up from EGP 2.25 million for the similar period of last year.

The firm saw net profits of EGP 218,790 in FY14/15, against losses of EGP 17.34 million in the previous year.