Lecico Egypt consolidated profits soar 204.05% YoY in Q1

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Lecico Egypt’s (LCSW) consolidated net profits attributable to the parent company surged 204.05% year on year (YoY) during the first three months of 2023, hitting EGP 89.039 million, compared to EGP 29.284 million, according to the company’s consolidated financial statement filed to the Egyptian Exchange (EGX) on May 16th.

Moreover, the company generated net sales of EGP 1.216 billion in the three-month period ended March 31st, up from EGP 745.522 million in the year-ago period.

At the level of the standalone financial statement, Lecico Egypt has achieved a net profit after tax of EGP 139.077 million during the first quarter (Q1) 2023, up from EGP 69.133 million in Q1 2022.

Lecico is an Egypt-based public shareholding company engaged in the manufacture of tiles and sanitary ware products. The company offers its products through three segments: sanitary ware products, ceramic tiles, and brassware.