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Lecico Egypt incurs 30% loss increase

Lecico Egypt incurs 30% loss increase

ArabFinance: Lecico Egypt (LCSW) reported a 30% Year on Year increase in its consolidated net loss for the first half (H1) of 2020, according to the company’s August 13th financial statements filed to the Egyptian Exchange.

Consolidated net loss stood at EGP 150,868,402 in H1 2020, compared to EGP 115,659,983 incurred in H1 2019.

Standalone net profit reached EGP 17,302,146 in H1 2020, an 88% rise from EGP 9,180,372 posted in the prior-year period.

Lecico announced on April 14th a temporary shutdown of its Alexandria's factory due to the detection of COVID-19 cases.

Lecico is an Egypt-based public shareholding company engaged in the manufacture of tiles and sanitary ware products. The company offers its products through three segments: the sanitary ware products, the ceramic tiles, and the brassware.

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