Cairo – Mubasher: Asec Company for Mining (ASCOM) has suffered consolidated net losses of EGP 90.89 million during in 2021, higher than EGP 71.72 million in 2020, including the minority shareholders' rights.

The company generated revenues worth EGP 937.66 million last year, up from EGP 821.63 million in 2020, according to a bourse filing on Sunday.

Meanwhile, the loss per share stood at EGP 1.50 in 2021, versus EGP 1.30 a year earlier. 

As for standalone businesses, the company’s net losses soared to EGP 252.81 million in the January-December 2021 period, compared to EGP 54.58 million in the year-ago period.

The standalone’s revenues reached EGP 296.03 million in 2021, lower than EGP 346.69 million in 2020.

In the first nine months (9M) of 2021, ASCOM registered consolidated net losses of EGP 38.21 million, down 59.12% from EGP 93.48 million in 9M-20.