Dice Sport posts 25% profit decline

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.

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