NileSat reports 5% profit decrease
Updated 6/8/2020 4:03:00 PM
ArabFinance: The Egyptian Satellites (NileSat) posted a 5% Year on Year decrease in its net consolidated profit in quarter one (Q1), according to the company’s June 8th financial statements filed to the Egyptian Exchange.
Consolidated net profit reached $10,821,453 (EGP 175,316,198) in Q1 2020, compared to $11,387,934 (EGP 184,493,643) achieved in Q1 2019.
The company distributed cash dividends of $0.55 per on April 12th to the shareholders recorded on April 7th.
NileSat is an Egypt-based public shareholding company that operates in the satellite radio and television broadcasting. The company‘s services include Broadcasting services, Broadband services, the Booking center provides a range of services, including satellite news gathering, feed services and turn around services, and the Training center.
At press time, the conversion rate is $1 = EGP 16.20
