Cairo – Mubasher: The unaudited financial results of Al Ezz for Ceramics and Porcelain (GEMMA) showed an 807% year-on-year surge in its net profits during 2019.
The company’s net profits climbed to EGP 52.47 million last year from EGP 5.78 million in 2018, according to a statement to the Egyptian Exchange (EGX) on Monday.
Meanwhile, GEMMA generated EGP 1.23 billion in revenue in 2019, up from EGP 10.3 billion in the previous year.
The profit leap was attributed to a rise in sales and operating profits.
It is noteworthy to mention that during the first nine months of 2019, the Egyptian firm reported net profits of EGP 42.05 million, compared to EGP 19.26 million in the year-ago period.
