Cairo – Mubasher: The Arab Ceramic Co. - Ceramica Remas reported a 27% year-on-year profit decline during the first nine months of 2019.
Net profits fell to EGP 22.63 million in the January-September period from EGP 30.87 million in the corresponding period a year earlier, the company said in a statement to the Egyptian Exchange (EGX) on Tuesday.
In the meantime, the company’s sales increased to EGP 597.8 million in the nine-month period ended 30 September, compared to EGP 593.12 million in the prior-year period.
As for the third quarter of 2019, Ceramica Remas logged a net profit of EGP 6.65 million, compared to EGP 6.9 million in Q3-18.
It is noteworthy that during the first half of 2019, the company’s net profits went down to EGP 13.83 million from EGP 23.93 million in H1-18.
