Cairo – Mubasher: The financial statements of the General Company for Ceramic and Porcelain Products (Sheeni) reported a 42% year-on-year rise in its net losses during the first half of fiscal year 2019/2020.
Sheeni incurred net losses of EGP 13.19 million in the six-month period ended 31 December 2019, compared to EGP 9.28 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Monday.
Revenues rose to EGP 160.09 million in the July-December period of 2019, compared to EGP 118.7 million in the corresponding period a year earlier.
It is noteworthy that during the first quarter of FY19/20, Sheeni’s net losses before taxes widened to EGP 8.95 million, compared to EGP 2.35 million during the same period a year earlier.
