Cairo – Mubasher: Al Ezz for Ceramics and Porcelain’s (GEMMA) unaudited financial indicators showed a 31% year-on-year profit increase during the first half of 2019.
Net profits totalled EGP 22.4 million in the six-month period ended 30 June, compared to EGP 17.16 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.
Meanwhile, the company generated sales of EGP 561.7 million in H1-19, up from EGP 509.3 million in H1-18.
The profit growth was attributed to higher sales and operating profits during the January-June period of 2019.
During the first quarter of 2019, GEMMA’s net profit fell to EGP 10.71 million from EGP 11.4 million in the corresponding period a year earlier.
