Lecico Egypt turns to profits in Q1
Updated 5/26/2022 10:10:03 AM
Arab Finance: Lecico Egypt (LCSW) has turned to profitability in the first quarter (Q1) of 2022, according to the company’s consolidated financial statement filed to the Egyptian Exchange (EGX) on May 26th.
The company has recorded a consolidated net profit attributable to the holding company of EGP 29.28 million in Q1 2022, versus a net loss of EGP 16.75 million in Q1 2021.
Moreover, the company generated net sales of EGP 745.52 million in the three-month period ended March 31, up from EGP 600.5 million in the year-ago period.
At the level of the standalone financial statement, Lecico Egypt has achieved a net profit after tax of EGP 69.13 million in Q1 2022, up from EGP 32.07 million in Q1 2021.
Lecico is an Egypt-based public shareholding company engaged in the manufacture of tiles and sanitary ware products. The company offers its products through three segments: sanitary ware products, ceramic tiles, and brassware.
