Dice Sport posts 25% profit decline

Dice Sport (DSCW) reported a 24.5% Year on Year decline in its net consolidated profit for 2019

ArabFinance:Dice Sport (DSCW) reported a 24.5% Year on Year decline in its net consolidated profit for 2019, according to a statement sent to the Egyptian Exchange (EGX).

The company posted a net consolidated profit of EGP 120,825,853 in 2019, compared to 160,080,970 in the corresponding year, according to the released financial statement.

Nevertheless, the standalone net profit reached EGP 87,482,321 in 2019, a 2.7% climb from EGP 79,340,160 achieved in 2018.

In terms of revenues, the company generated revenues at EGP 1,354,379,442, a 3.2% rise from EGP 1,312,595,065 a year earlier.

In March, Target Real Estate Investment Company submitted an application to the EGX for buying 114 million new shares in Dice Ready Made Garments (DRMG), to raise its stake by about 25%.

Target Real Estate Investment and its owners own about 21.2% of the shares of Dice Ready Made Garments.

Dice Sport and Casual Wear SAE is an Egypt-based company engaged in the casual wear garments and textile industry. The Company manufactures and distributes ready-made casual war made of pure and mixed cotton, polyester and viscose fabrics in different types, as well as other knitting products.

Copyright © 2020 Arab Finance Brokerage Company All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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.

More From North Africa