Ascom incurs losses in 2019 amid higher revenues
Updated 4/23/2020 3:12:00 PM
ArabFinance: Asek Company for Mining (Ascom) (ASCM) suffered a consolidated net loss of EGP 52.57 million during 2019.
This value was lower than EGP 102.82 million losses incurred in 2018, according to an EGX disclosure.
Meanwhile, Ascom achieved higher revenues of EGP 967.05 million in 2019, compared to EGP 950.66 million.
As for the standalone financials, the company turned to a net loss of EGP 34.53 million, against a profit of EGP 3.93 million in 2018.
The revenues meanwhile increased to EGP 379.78 million from EGP 363.84 million.
