Arab Real Estate Investment Co. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was EGP 26.85 million compared to EGP 17.06 million a year ago. Net loss was EGP 1.06 million compared to net income of EGP 4.25 million a year ago. Basic loss per share from continuing operations was EGP 0.004 compared to basic earnings per share from continuing operations of EGP 0.017 a year ago.
For the six months, sales was EGP 44.41 million compared to EGP 28.94 million a year ago. Net income was EGP 6.12 million compared to EGP 3.21 million a year ago. Basic earnings per share from continuing operations was EGP 0.025 compared to EGP 0.013 a year ago.