ArabFinance: El Ezz Porcelain (Gemma) (ECAP) posted a net profit of EGP 52.12 million for the first half (H1) of 2021, versus a net loss EGP 20.99 million in the corresponding period of 2020, Gemma said in a filing to the Egyptian Exchange (EGX).

The company generated EGP 654.70 million in net sales during the six-month period ended June 30th, 2021, surging by 162% from EGP 403.07 million in H1 2020.

At the level of quarterly financial results, Gemma turned to profitability in the second quarter (Q2) of 2021, with a net profit of EGP 13.49 million, against a net loss of EGP26.54 million in Q2 2020.

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