Cairo – Mubasher: The Egyptian Media Production City Co (EMPC) achieved net profits of EGP 25.57 million in the first quarter (Q1) of 2021.

The revenues amounted to EGP 125.16 million in the January-March period, the company said in a bourse disclosure on Tuesday.

No results were reported for the corresponding period as the company has not issued its consolidated financial results before.

As for standalone business, the company logged EGP 30.4 million in net profits in Q1-21, compared to EGP 28.54 million in Q1-20.

The standalone revenues grew to EGP 126.63 million in the three-month period ended 31 March from EGP 118.27 million in the same period in 2020.

In 2020, the company reported net profits of EGP 67.3 million and generated revenues of EGP 450.466 million.