EGYSTONE widens losses in H1 by 432.5% YoY

Updated 8/13/2024 9:33:00 AM
EGYSTONE widens losses in H1 by 432.5% YoY

Arab Finance: Egypt Intercontinental for Granite and Marble (EGYSTONE) saw a 432.5% year-on-year (YoY) increase in its net loss after tax in the first six months of 2024, according to the financial statement filed to the Egyptian Exchange (EGX) on August 13th.

The company suffered a net loss after tax of EGP 622.490 in the first six months of 2024, compared to EGP 116,899 in the year-ago period.

Operating revenues declined to EGP 1.061 million in the January-June period of this year from EGP 1.188 million during the first half (H1) of 2023.

EGYSTONE is a subsidiary of Salama Group which was established over 40 years ago. The company operates within the materials sector, focusing on construction materials, in addition to the supply and installation of all types of granite and general contracting.

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