Cairo – Mubasher: Arab Engineering Industries reported an 11.8% year-on-year profit drop for the full-year 2019.
Net profits fell to EGP 6.32 million last year, compared to EGP 7.17 million in 2018, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.
In the meantime, sales declined to EGP 62.33 million during the 12-month period ended 31 December 2019 from EGP 69.53 million a year earlier.
It is worth mentioning that during the first nine months of 2019, the Egyptian firm reported net profits of EGP 5.4 million, compared to EGP 6.06 million in the year-ago period, including minority shareholders’ rights.
