Arab Finance: El Ezz Porcelain (Gemma) (ECAP) reported a net profit after tax of EGP 83.19 million in the first half (H1) of 2022, rising by 59.6% from EGP 52.11 million in H1 2021, according to the financial income statement filed to the Egyptian Exchange (EGX) on August 10th.
The company’s sales amounted to EGP 884.90 million in the six-month period ended June 30th, growing from EGP 654.70 million in the same period a year earlier.
In the second quarter (Q2) of 2022, Gemma posted a 171.4% year-on-year (YoY) surge in net profit after tax, recording EGP 36.60 million, compared to EGP 13.48 million in Q2 2021.
Sales in Q2 2022 stood at EGP 431.06 million, compared to EGP 330.77 million in the year-ago quarter.
Established in 1989, Egypt-based Gemma is a leading manufacturer of high-end Ceramic and Porcelain tiles in the Middle East and North Africa, with a total annual production capacity of 18 million square meters.