Arab Real Estate Investment Company’s (ALICO) net profits after tax recorded a 4.2% year-on-year (YoY) drop in the first quarter (Q1) of 2024, the firm stated on May 28th.

The company’s net profits after tax amounted to EGP 6.881 million during the January-March period of 2024, versus EGP 7.18 million during the same period the year prior.

On the other hand, sales grew to EGP 20.809 million in Q1 2024 from EGP 17.555 million in Q1 2023.

Founded in 1991, ALICO offers real estate brokerage services; engineering, procurement, and construction for residential and heavy projects.

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