Cairo – Mubasher: The unaudited financial results of the Egyptian Media Production City Co (EMPC) showed net profits of EGP 28.54 million in the first quarter of 2020, up by 4.7% from EGP 27.24 million in the year-ago period.
The company generated EGP 118.27 million in revenue in the January-March period, up from EGP 103.4 million in the corresponding period in 2019, according to a bourse disclosure on Sunday.
In addition, the board of directors disapproved the sale of Misr Insurance Company’s stake in the company until other shareholders are offered to acquire the stake.
It is worth noting that in 2019, EMPC’s net profits after taxes rose to EGP 105.13 million from EGP 93.4 million in 2018.
