ArabFinance: Asek Company for Mining (Ascom) (ASCM) incurred a consolidated net loss attributable to the parent of EGP 32.45 million in the first nine months of 2021, down from EGP 86.63 million in the prior-year period, according to the company’s financial statements filed to the Egyptian Exchange (EGX).

On the other hand, the company achieved a standalone net profit after tax of EGP 4.43 million in the January-September period of 2021, versus a net loss of EGP 49.28 million in the same period of 2020.

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.