EGYSTONE’s board greenlights capital cut

Updated 7/9/2023 12:36:00 PM
EGYSTONE’s board greenlights capital cut

Arab Finance: Egypt Intercontinental for Granite and Marble’s (EGYSTONE) board has endorsed the amendment of Article 6 of the company’s Articles of Association on trimming the authorized capital to EGP 43.250 million from EGP 50 million, as per a disclosure on July 9th.

Earlier this year, the company posted net profits after tax of EGP 146,666 during the first quarter (Q1) of 2023, versus net losses of EGP 79,770 in the same quarter in the year before.

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 supply and installation of all types of granite and general contracting.

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