ArabFinance: The Egyptian Satellites (NileSat) reported a 17% Year on Year decline in its net profit for the first half (H1) of 2020, according to the company’s financial statements filed to the Egyptian Exchange.
Net profit stood at $19,564,668 (EGP 311,119,307) in H1 2020, compared to $23,812,278 (EGP 378,665,225) achieved in H1 2019.
The company distributed cash dividends of $0.55 (EGP 8.76) per on April 12th to the shareholders recorded on April 7th.
NileSat is an Egypt-based public shareholding company that offers services related to the satellite radio and television broadcasting, in addition to the broadband internet.
The company has a booking center that provides a range of services including satellite news gathering as well as feed and turnaround services, in addition to a training center.
At press time, the conversion rate is $1 = EGP 15.90