Cairo – Mubasher: Arab Ceramics Company’s profits fell 3.88% in the first quarter of 2017.
Net profit reached EGP 13.77 million in Q1-17, compared to EGP 14.32 million in Q1-16, according to a bourse filing on Thursday.
Sales grew to EGP 162.7 million in Q1-17 from EGP 109.72 million in Q1-16.
On the other hand, costs declined 59% to EGP 143 million to reduce gross profit slightly by EGP 400,000 to EGP 19.4 million.
The increase in salaries and allowances by around EGP 1.2 million to EGP 2.64 million pressed on the profit margin, in addition to the growth of the general and administrative expenses around EGP 260,000 to EGP 2.8 million.
