Gemma’s profits plunge 76% YoY in Q1 2024

The company recorded net profits after tax of EGP 13.837 million in Q1 2024, compared to EGP 56.962 million in Q1 2023

Staff Writer, Arab Finance

May 29, 2024

PHOTO

El Ezz Porcelain (Gemma) posted a 75.7% year-on-year (YoY) drop in net profits after tax for the first quarter (Q1) of 2024, according to the firm’s financial statement.

The company recorded net profits after tax of EGP 13.837 million in Q1 2024, compared to EGP 56.962 million in Q1 2023.

Meanwhile, sales went up to EGP 694.034 million from EGP 610.939 million.

Established in 1989, Gemma has become the leading manufacturer of high-end Ceramic and Porcelain tiles in Egypt and the Middle East.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO