Arabian Rocks Plastic Industries reports 108% loss increase

Arabian Rocks Plastic Industries (ARPI) reported a 108% Year on Year increase in its net loss in Quarter one (Q1) of 2020

  
ArabFinance: Arabian Rocks Plastic Industries (ARPI) reported a 108% Year on Year increase in its net loss in Quarter one (Q1) of 2020, according to the company's June 23rd financial statements filed to the Egyptian Exchange.

Net loss reached EGP 481,896 in Q1 2020, compared to EGP 231,476 incurred in Q1 2019.

In 2019, the company swung to a net loss of EGP 648,773, against a net profit of EGP 1,213,316 achieved in 2018.

On April 30th, the listed firm approved share dividends worth EGP 5 million financed from its 2019 retained profits. It will distribute a 0.25 free share for each share held, totalling 25 million shares.

Established in 2013 and listed on EGX in 2016, Arabian Rocks is a public company that operates within the materials sector and focuses on commodity chemicals.

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