Arab Finance: El Ezz Porcelain (Gemma) (ECAP) posted a 65.54% year-on-year (YoY) hike in net profit after tax during the first nine months of 2022, according to the financial statement filed to the Egyptian Exchange (EGX) on November 15th.

The company’s net profit after tax surged to EGP 137.65 million in January-September from EGP 83.15 million in the same period a year earlier.

Sales grew to EGP 1.372 billion in the nine months to September 30th from EGP 1.012 billion in the year-ago period.

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.