Nilesat
EGSA
-9.43%
7.00
-0.66
EGSA
Cairo – Mubasher: The unaudited financial results of the Egyptian Satellites Co (NileSat) posted a 20.45% year-on-year profit retreat during 2019, pressured by lower revenues.
NileSat logged a net profit of $42.53 million last year, down from $53.46 million in 2018, according to a bourse disclosure on Sunday.
Revenues fell to $130.71 million in the twelve-month period ended 31 December 2019, compared to $145.12 million a year earlier.
It is noteworthy that during the first nine months of 2019, NileSat reported a net profit of $35.04 million, down from $41.5 million in the prior-year period.
Source:
Mubasher