Cairo – Mubasher: General Land Reclamation Co. reported unaudited financial results for the first quarter of the fiscal year 2016 – 2017, where it turned to profitability.

The company reported net profits of EGP 1.6 million for the first quarter of FY 2016/17, against losses of EGP 4.8 million for the same period of the previous year.

Earlier, the company reported net profits of EGP 4.9 million for FY15/16, against losses of EGP 17.8 million for the preceding year.