Ascom's profits fall 97% YoY in 9 months
Updated 2/12/2025 11:16:00 AM
Arab Finance: Asek Company for Mining (Ascom) posted consolidated net profits attributable to the parent company worth EGP 67.671 million in the first nine months of 2024, a 97% year-on-year (YoY) from EGP 2.260 billion, according to the financial results.
The revenues increased to EGP 2.285 billion in the nine-month period ended September 30th, 2024, from EGP 1.410 billion in the same period of 2023, while the basic and diluted loss per share increased to EGP 6.45 from EGP 1.78.
As for the standalone business, the company turned to net losses valued at the end of September 2024, incurring EGP 318.868 million, against net profits of EGP 15.227 million a year earlier.
Non-consolidated revenues climbed to EGP 291.027 million from EGP 251.069 million.
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