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ALICO’s net profit rises 13% in 9M

ALICO’s net profit rises 13% in 9M
Net profits went up to EGP 3.97 million
ALICO
RREI
0.96% 1.17 0.01

Cairo – Mubasher: Arab Real Estate Investment Company (ALICO) reported a 13.3% year-on-year profit increase during the first nine months of 2019.

Net profits went up to EGP 3.97 million in the January-September period, compared to EGP 3.5 million in the same period of 2018, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

The cost of revenues fell to EGP 24.117 million in the nine-month period ended 30 September from EGP 30.764 million in the year-ago period.

It is noteworthy that during the first half of 2019, ALICO’s net profits declined to EGP 2.438 million from EGP 4.859 million in H1-18.