Cairo – Mubasher: The consolidated net profits after tax of Asec Company for Mining (ASCOM) widened to EGP 1.95 billion in 2023 from EGP 96.90 million as of 31 December 2022.
The EGX-listed firm generated revenues valued at EGP 1.92 billion last year, marking a rise from EGP 1.36 billion in 2022, according to the financial results.
Total assets hit EGP 5.19 billion as of 31 December 2023, an annual hike from EGP 2.22 billion.
Standalone Financials
In the 12-month period that ended on 31 December 2023, ASCOM registered standalone net profits worth EGP 35.01 million, against net losses valued at EGP 79.73 million a year earlier.
Non-consolidated revenues jumped year-on-year (YoY) to EGP 352.66 million in 2023 from EGP 214.91 million, while loss per share declined to EGP 1.43 from EGP 2.51.
In the January-September 2023 period, ASCOM posted higher consolidated net profit after tax at EGP 2.25 billion, versus EGP 118.24 million, including minority interest.
