Cairo – Mubasher: Asek Company for Mining (ASCOM) reported a 68.38% year-on-year decline in its consolidated losses in 2018.
ASCOM’s net losses amounted to EGP 102.82 million last year, compared to EGP 325.19 million in 2017, including minority shareholders’ rights, according to a filing to the Egyptian Exchange (EGX) on Tuesday.
Meanwhile, revenues retreated to EGP 911.85 million in 2018 from EGP 954.23 million in the prior year.
As for standalone results, the Egyptian firm turned a profit with EGP 3.93 million in the January-December period of 2018, versus losses of EGP 11.14 million in the year-ago period.
During the first nine months of 2018, ASCOM posted EGP 31.2 million in losses, compared to EGP 305.04 million in the corresponding period a year earlier, including minority shareholders’ rights.
ASCOM reported EGP 20.7 million in its standalone profits in the January-September period of 2018, compared to EGP 12.07 million in the prior-year period.
