Rubex International widens losses by 692% YoY in Q1

Updated 5/31/2022 2:01:00 PM

Arab Finance: Rubex International for Plastic and Acrylic Manufacturing (RUBX) posted a 692% year-on-year (YoY) surge in net losses for the first quarter (Q1) of 2022, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on May 31st.

The company suffered a net loss of EGP 8.11 million in Q1 2022, versus EGP 1.024 million in the corresponding period last year.

Moreover, the company recorded revenues of EGP 36.12 million in the January-March period of 2022, down from EGP 38.22 million in Q1 2021.

Rubex is an Egypt-based joint-stock shareholding company engaged in acrylic and plastic products manufacturing.

The company manufactures and distributes household plastic and acrylic products that include acrylic bathtubs and corner bathtubs, acrylic shower trays, acrylic bathroom panels, and others.