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Lecico Egypt profit rises 24% in Q1

Lecico Egypt profit rises 24% in Q1
Net profit totalled EGP 24.17 million in the three-month period ended March 2018
Lecico
LCSW
-0.26% 18.91 -0.05

Cairo – Mubasher: The financial statements of Lecico Egypt has shown a 23.7% year-on-year increase in consolidated profits for the first quarter of 2018.

Net profit totalled EGP 24.17 million in the three-month period ended March 2018, up from EGP 19.5 million in Q1-17, including minority shareholders’ rights, the company said in a filing to the Egyptian Exchange (EGX) on Monday.

Sales grew to EGP 653 million in Q1-18, versus EGP 545.7 million in the prior-year period.

Meanwhile, standalone losses stood at EGP 8.2 million in Q1-18, compared to standalone profits of EGP 36.5 million in the year-ago period.

Lecico Egypt had posted a net profit of EGP 37.8 million for the full-year ended December 2017, against a net loss of EGP 47.8 million in 2016, including minority shareholders’ rights.