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NileSat’s profits decline 13% in Q1

NileSat’s profits decline 13% in Q1

ArabFinance: Egyptian Satellites’ (NileSat) (EGSA) profits decreased 12.9% in the first three months of 2019, according to a bourse filing on Monday.

The company posted net profits of $11.38 million, compared net profits of $13 million in the same period a year ago.

The company revealed its financial results for the fiscal period starting January 1, 2019, and ending March 31, 2019.

NileSat attributed the decline in net profits to lower activity’s revenues.

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