The General Company for Land Reclamation, Development, and Reconstruction (AALR) has reported a net loss of EGP 18.082 million for the first nine months of the fiscal year 2024/2025, according to the company’s financial results released today.
This figure represents a 14.09% increase in net losses compared to the same period in the previous fiscal year, when the company incurred losses of EGP 15.848 million.
The basic loss per share also saw an increase, rising to EGP 2.778 from EGP 2.43 during the comparable nine-month period.
Despite the rise in net losses and loss per share, the company’s revenues showed a marginal increase. For the first nine months of FY 2024/2025, AALR recorded revenues of EGP 53.612 million, slightly up from the EGP 53.563 million reported in the same period of the previous fiscal year.
The financial results indicate a challenging period for the state-owned land reclamation company, as increased losses offset a minor gain in revenue. The reasons behind the widening losses were not detailed in the brief report.
The General Company for Land Reclamation, Development, and Reconstruction plays a significant role in Egypt’s agricultural sector, undertaking projects to reclaim and develop land for agricultural purposes. These financial results will likely be of interest to investors and stakeholders in the Egyptian agricultural and economic landscape.
