Nasr for Civil Works widens losses by 312.2% in 9 months

Updated 11/3/2021 11:06:07 AM

ArabFinance: Nasr Company for Civil Works (NCCW) announced that its board of directors has approved the company’s unaudited financial results for the nine-month period ended September 30th, 2021, according to a statement filed to the Egyptian Exchange (EGX).

The financial indicators showed that the company incurred a net loss after tax of EGP 14.71 million in the first nine months of 2021, surging by 312.22% from EGP 3.56 million in the same period of 2020.

Moreover, the company’s revenue fell by 44.27% to EGP 76.103 million in the January-September period of 2021 from EGP 136.56 million in the year-ago period.

Nasr for Civil Works is an Egypt-based public shareholding company engaged in the construction sector. The company provides construction and development contracting services for infrastructural projects related to energy, utilities, housing, roads, and ports.