Gemma’s profits grow 22% YoY in Q1

Updated 5/25/2023 9:00:00 AM
Gemma’s profits grow 22% YoY in Q1

Arab Finance: El Ezz Porcelain (Gemma) posted a 22.27% year-on-year (YoY) increase in net profits after tax for the first quarter (Q1) of 2023, according to the financial statement filed to the Egyptian Exchange (EGX) on May 25th.

The company recorded a net profit after tax of EGP 56.961 million in Q1 2023, compared to EGP 46.584 million in Q1 2022.

Sales amounted to EGP 610.939 million in the first three months this year, up from EGP 453.835 million in the same period of 2022.

Established in 1989, Gemma has become the leading manufacturer of high-end Ceramic and Porcelain tiles in Egypt and the Middle East.

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