Cairo – Mubasher: Middle East Glass Manufacturing Co reported consolidated net profits of EGP 69.15 million in the first quarter (Q1) of 2021, up by 122.5% year-on-year (YoY) from EGP 31.07 million, including minority shareholders’ rights.

The revenues increased to EGP 474.08 million in the January-March period, compared to EGP 422.4 million in the prior-year period, the company said in a bourse disclosure on Tuesday.

In addition, the standalone financial results showed net profits of EGP 15.38 million in Q1-21, versus net losses of EGP 5.22 million in Q1-20.

In 2020, Middle East Glass Manufacturing Co recorded net profits of EGP 93.07 million, down from EGP 157.55 million a year earlier, including minority shareholders’ rights.