ArabFinance: The Egyptian Satellites (NileSat) reported a 17% Year on Year decline in its net profit in the first half (H1) of 2020, according to the company’s financial statements filed to the Egyptian Exchange.

Net profit stood at $19,564,668 (EGP 311,119,307) in H1 of 2020, compared to $23,812,278 (EGP 378,665,225)achieved in H1 2019.

The company distributed cash dividends of $0.55 per on April 12th to the shareholders recorded on April 7th.

NileSat is an Egypt-based public shareholding company that operates in the satellite radio and television broadcasting. The company‘s services include Broadcasting services, Broadband services, the Booking center provides a range of services, including satellite news gathering, feed services and turn around services, and the Training center.

At press time, the conversion rate is $1 = EGP 15.90

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