Tile and sanitary ware producer General Company for Porcelain & Ceramics Products (Sheeni) announced that an ordinary general meeting will be held on Tuesday, September 23, 2014, to look into ratifying the board’s report, as well as financial results for the fiscal year that ended on June 30, 2014.
Board members will be discharged from liability for the same FY.
Financial results for the fiscal year that ended on June 30, 2014 had shown that net profit rose 13% to EGP 29.5 million, from EGP 26 million in FY12/13.
FY13/14 sales totaled EGP 186.3 million, compared with EGP 173.8 million a year earlier. Financial results for the nine-month period that ended on March 31, 2014 had mirrored EGP 22.2 million net profit, with 21% increase compared with EGP 18.3 million in the same period a year earlier. The company’s estimated budget for the fiscal year 2014/2015 showed that company is targeting EGP 46.295 million net profit.