NileSat’s profit marginally down to $18.7mln in H1-22

Reuters Images/Mohamed Abd El Ghany

Revenue for H1-22 slid to $50.14mln, compared to $59.49mln in H1-21

Staff Writer, Mubasher

August 12, 2022

PHOTO

Cairo – The Egyptian Satellites Company (NileSat) reported a marginal rise in its net profits during the first half (H1) of the year.

Net earnings of NileSat reached $18.70 million during the six-month period ended 30 June 2022, compared to $18.19 million in the same period a year earlier, according to a stock exchange statement on Thursday.

Revenue for H1-22 slid to $50.14 million, compared to $59.49 million in H1-21.

In the second quarter (Q2) of the year, the net profits retreated to $11.43 million from $28.88 million in Q2 of 2021, while revenues fell to $25.09 million from $28.53 million.

It is worth noting that in the first three months (3M) of 2022, NileSat recorded net profits of $7.27 million, lower than $15.30 million in Q1-21.

Revenues settled at $25.04 million during Q1-22, compared to $30.95 million during Q1-21.

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.