Cairo – Mubasher: Wadi Kom Ombo Land Reclamation posted a 12% year-on-year profit increase during the first nine months of fiscal year 2018/2019.

The Egyptian company’s net profits registered EGP 22.5 million from July 2018 to last March, compared to EGP 20.08 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Monday.

Meanwhile, revenues surged to EGP 107.39 million in the nine-month period ended 31 March from EGP 87.04 million in the same period a year earlier.

During the period from July to December, the company reported EGP 18.54 million in profits after taxes, compared to EGP 5.18 million in the prior-year period.