ArabFinance: El Ezz Porcelain (Gemma) (ECAP) has turned to profitability for the full-year ended December 31st 2021, according to the company’s financial indicators filed to the Egyptian Exchange (EGX).
The company has recorded a net profit after tax of EGP 107.24 million in 2021, versus a net loss of EGP 13.64 million in 2020.
Net sale surged by 136% in 2021 to EGP 1.401 billion from EGP 1.28 billion in 2020.
Established in 1989, Gemma has become the leading manufacturer of high-end Ceramic and Porcelain tiles in Egypt and the Middle East.