Cairo – Mubasher: Samcrete Misr posted a decline of 97.7% in net profits for the second quarter of 2016.
The company saw net profits of EGP 150.620 in Q2-2016, compared with EGP 6.5 million for the same period of the previous year.
As for the first half of 2016, the company reported net profits of EGP 773.530, down from EGP 7.64 million for the comparable period of 2015.
The company attributed its profit decline to the increasing financial costs in the second quarter of 2016 by 65.71% y-o-y to stand at EGP 16.4 million.
