Arab Finance: Asek Company for Mining (Ascom) recorded consolidated net losses attributable to the parent company of EGP 27.898 million in the first three months of 2024, versus net profits of EGP 39.127 million during the same period in 2023, according to the financial income statement filed to the Egyptian Exchange (EGX) on June 23rd.

Concerning standalone business, the firm incurred EGP 59.999 million in net losses after tax during the three months ending March 31st, versus net profits of EGP 6.315 million in the same period of the prior year.

Ascom is an Egypt-based public shareholding company that operates primarily in the non-metal mining sector.

The company is engaged in geological exploration, mining and quarrying of raw materials, and developing mining operations for building materials and precious metals. This is in addition to being involved in manufacturing operations for ground calcium carbonate and rock as well as glass wool.

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