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Egyptian pound banknotes sit on a table on March 6, 2024 in Cairo, after Egypt's central bank announced it will allow the exchange rate to be set by the market. Egypt's central bank announced on March 6 it will allow the exchange rate to be set by the market, causing the pound to lose more than a third of its value within minutes. Shortly after 12:00 pm (1000 GMT), the Egyptian pound was trading at a record high of 49.15 pounds to the US dollar, after more than a year of a stabilised official exchange rate of around 30.9. (Photo by Khaled DESOUKI / AFP)
Wadi Kom Ombo for Land Reclamation Company reported a 68.9% year-on-year (YoY) increase in net profits after tax in the fiscal year (FY) 2023/2024, the firm disclosed.
The company registered net profits of EGP 43.114 million last FY, compared to EGP 25.530 million in the prior year.
Meanwhile, operating revenues grew to EGP 139.821 million from EGP 117.846 million.
Wadi Kom Ombo is an Egypt-based company that is engaged in the real estate development sector.
The company is involved in land reclamation, real estate development, and general contracting services, such as selling and purchasing land for building and agriculture. It operates it for its account and third parties.
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