Gemma generates EGP 357.8M in revenues
Updated 11/11/2021 12:39:00 PM
ArabFinance: El Ezz Porcelain (Gemma) (ECAP) generated revenues worth EGP 357.8 million for the period ended September 30th 2021, an increase of 31%, when compared to the same period of 2020, according to the company’s statement to the Egyptian Exchange.
The company’s profit reached EGP 31.03 million during the same period of 2021.
The company attributed the increase in revenues to the hike in local sales, representing 86% of revenues. This is supported by the state’s plan in urban expansion and development in the construction sector.
During the first half of 2021, Gemma posted a net profit of EGP 52.12 million, versus a net loss EGP 20.99 million in the corresponding period of 2020.
Established in 1989, Gemma has become the leading manufacturer of high-end Ceramic and Porcelain tiles in Egypt and the Middle East.
