Ascom loss widends
Updated 4/18/2021 1:18:00 PM
ArabFinance: Asec Company for Mining (Ascom) (ASCM) suffered a consolidated net loss of EGP 71.722 million in 2020 compared to EGP 52.572 million incurred in 2019, according to a statement to Egyptian Exchange on April 18th.
Ascom reported a standalone net loss of EGP 54.589 million in 2020, a 58% rise from EGP 34.538 million incurred in 2019.
The listed company’s board of directors approved the exit of the Financial Holding International Company, represented by Moustafa Abdullah, from the company’s board
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.
