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.
