ArabFinance: Egyptian Media Production City (EMPC) (MPRC) reported a 4.76% Year on Year decline in its net consolidated profit for Quarter 1 (Q1) of 2020, according to a June 7th financial statements filed to the Egyptian Exchange.
Net profit reached EGP 28,542,956 in Q1 2020, compared to EGP 27,247,188 achieved in the corresponding period a year earlier.
In February, the company's board of directors approved purchasing Arab Contractors' stake in Arabian Hotels Media Production City company. (AHMP).
The company will buy 1,253,230 shares, which represent 64.70% of AHMP's capital at EGP 115 per share.
EMPC is an Egypt-based company engaged in the media sector. The company provides and leases television, cinema and media production tools and complementary services to others, as well as produces cultural, drama and kids shows.
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