Rubex International turns to loss

Updated 8/16/2020 1:35:00 PM

ArabFinance:  Rubex International (RUBX) incurred a net loss of EGP 12,298,599 in the first half (H1) of 2020, according to the company’s August 16th financial statements filed to the Egyptian Exchange.

In H1 of 2019, the company posted a net profit of EGP 6,787,785.

the company attributed the loss to the coronavirus repercussion on the company sales that went from 102 in H1 2019 to EGP 57 million in H1 2020.

On July 20th, the EGX's Operations Committee set the opening price of Rubex International's rights issue shares in the first trading day at EGP 0.53 per share.

Rubex is an Egypt-based joint-stock shareholding company engaged in acrylic and plastic products manufacturing. The company manufactures and distributes household plastic and acrylic products that include acrylic bathtubs and corner bathtubs, acrylic shower trays, acrylic bathroom panels, and others.