General Land Reclamation Net Loss 22.7% Up; H1

General Co. For Land Reclamation Development & Reconstruction (AALR.CA) reported a net loss of EGP 25.532 million during the first half of 2012, 22.7% up from a year earlier net loss of EGP 20.812 million.

The company’s revenues fell 57.7% to EGP 61.639 million during H1/2012, compared to EGP 106.827 million during H1/2011.

Gross loss, after excluding the cost of revenues, hiked to EGP 10.181 million through H1/2012, compared to EGP 1.298 million a year earlier.

Losses of the working capital for H1/2012 rose to EGP 129.635 million, compared to EGP 99.511 million.