Cairo – Mubasher: The extraordinary general meeting (EGM) of the General Company for Ceramic and Porcelain Products (Sheeni) approved the company’s continuity, during a meeting held on 12 October 2022.

The company’s shareholders also approved implementing a reform plan aimed at eliminating losses and turning to profitability, according to a bourse disclosure on Thursday.

Moreover, the company’s general assembly approved the annual financial statements and the board’s report on the company’s activity during fiscal year (FY) 2021/2022.

During the first half of 2022, revenues of the EGX-listed firm retreated to EGP 104.50 million, compared to EGP 111.99 million in H1-21.

In FY20/21, Sheeni incurred net losses of EGP 15.68 million, down from EGP 54.3 million a year earlier.