Lecico Egypt loss shrinks

Lecico Egypt reported a 5% Year on Year decline in its consolidated net loss in the first nine months

  
Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

Traders work at the Egyptian stock exchange in Cairo, Egypt February 13, 2018.

REUTERS/Amr Abdallah Dalsh
ArabFinance: Lecico Egypt reported a 5% Year on Year decline in its consolidated net loss in the first nine months of 2020, according to the company’s unaudited financial statements filed to the Egyptian Exchange.

Consolidated net loss after tax stood at EGP 195,783,909 in the January-September period of 2020, compared to EGP 202,673,956 incurred in the prior-year period.

Standalone net loss reached EGP 12,767,786 in the January-September period of 2020, a 71% decrease from EGP 43,631,892 posted in the corresponding period a year earlier.

Lecico announced on April 14th a temporary shutdown of its Alexandria's factory due to the detection of COVID-19 cases.

Lecico is an Egypt-based public shareholding company engaged in the manufacture of tiles and sanitary ware products. The company offers its products through three segments: the sanitary ware products, the ceramic tiles, and the brassware.

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