Ascom turns to loss
Updated 9/28/2020 3:25:51 PM
ArabFinance: Asek Company for Mining (Ascom) incurred a consolidated net loss of EGP 54,650,437 in the first half (H1) of 2020, according to the company’s September 28th financial statements filed to the Egyptian Exchange.
In H1 2019, the company posted a net profit of EGP 4,471,048.
Standalone net loss reached EGP 44,324,909 in H1 2020, against a net profit of EGP 2,759,851 posted in H1 2019.
Ascom is an Egypt-based public shareholding company that operates primarily in the non-metal mining sector. The company is engaged in geological exploration, mining and quarrying of raw materials, and developing mining operations for building materials and precious metals. This is in addition to being involved in manufacturing operations for ground calcium carbonate and rock as well as glass wool.
