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Arab Engineering Industries posts 11% profit drop in 9M

Arab Engineering Industries posts 11% profit drop in 9M
Sales went down to EGP 53.22 million

Cairo – Mubasher: Arab Engineering Industries reported an 11% year-on-year profit decrease during the first nine months of 2019.

Net profits amounted to EGP 5.4 million in the January-September period, compared to EGP 6.06 million in the corresponding period a year earlier, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, sales went down to EGP 53.22 million in the nine-month period ended 30 September from EGP 55.26 million in the year-ago period.

It is noteworthy that during the first half of 2019, the EGX-listed firm’s net profits increased to EGP 4.49 million from EGP 3.19 million in H1-18.