Cairo – Mubasher: Arab Real Estate Investment Company (ALICO) reported a 25.3% year-on-year (YoY) drop in profits to EGP 5.13 million in 2019 from EGP 6.98 million in 2018, according to the company's financial results for 2019.
The company's revenues reached roughly EGP 40 million last year, compared to EGP 44.98 million in 2018.
It is noteworthy to mention that during the first nine months of 2019, the company's net profits rose by 13.3% YoY to EGP 3.97 million.
