One factory reopens and another closes temporarily, Lecico Egypt says

International Ceramics represents approximately 55% of the Group’s tile production capacity.

  
ArabFinance:Lecico Egypt (LCSW) reopened its subsidiary Lecico for Ceramics which had been closed for two weeks due to cases of COVID-19 identified among its workers by the Egyptian Ministry of Health, according to a company statement released on April 29th.

However, a case of COVID-19 in International Ceramics, another group factory and subsidiary, on the same day. Following the Egyptian Ministry of Health’s guidelines, we are closing this factory for two weeks with all staff sent home to self-isolate before returning to operations.

The cases of COVID-19 identified thus far cover different factories and departments on separate production sites within the Group.

Lecico will continue to operate as much as possible within these changing parameters to protect its customers' business and ensure Lecico’s continuity commercially and financially during and after the CONVID-19 pandemic, according to the statement.

International Ceramics represents approximately 55% of the Group’s tile production capacity. LEcico anticipates minimal disruption of customer services form this closure given its stock levels and the already slowing demand for products as a result of the pandemic.

In 2019, the company posted a net consolidated profit of EGP 300,982,959, compared to net profits of EGP 111,656,489 a year earlier, taking into account the minority rights.

Standalone net loss incurred of EGP 84,754,695, compared to net loss of EGP 20,846,846 last year.

Lecico Egypt SAE 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: the Sanitary Ware, the Ceramic Tiles segment designs and manufactures floor and wall tiles, and Brassware segment.

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