ASCOM's loss narrows 38% in H1-21

The activity revenues increased

Cairo – Mubasher: Asec Company for Mining (ASCOM) reported net losses of EGP 36.25 million in the first half (H1) of 2021, down by 37.6% year-on-year (YoY) from EGP 58.14 million, including minority shareholders' rights.

The activity revenues increased to EGP 467.7 million in the January-June period from EGP 386.8 million in the corresponding period a year earlier, the company said in a bourse disclosure on Thursday.

As for standalone business, the company logged net profits of EGP 12.04 million in H1-21, versus net losses of EGP 44.32 million in H1-20.

During the first quarter (Q1) of 2021, ASCOM incurred net losses of EGP 30.06 million, up from EGP 23.24 million in Q1-20, including minority shareholders' rights.

Source: Mubasher

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