ASCOM net profit jumps to 232.4 mln Egyptian pounds in Q1

Egypt-based Asec Company for Mining (ASCOM) reported Monday an increase in its net profit to reach 232.4 million Egyptian pounds during the first quarter of financial year 2016/2017.

Revenues jumped to 268.7 million pounds during the first three months of financial year 2016/2017, compared with 178.22 million pounds during the same period of financial year 2015/2016, according to a bourse filing.

Financial income climbed to 254.18 million pounds during the first quarter of this financial year, compared to 14.7 million for during the same quarter a year earlier.