Egyptian ceramics maker Lecico Egypt (LCSW.CA) said on Thursday its second quarter net profit quadrupled to EGP 20.6 million ($3.4 million) versus a year earlier.
The firm had posted a second quarter net profit of EGP 5.1 million in 2011.
Lecico said in a statement that rising demand for its sanitary ware and tiles in the local market as well as in Libya and Europe had compensated for losses it suffered due to political instability last year in the wake of the uprising that toppled Hosni Mubarak.
Revenues for the second quarter rose 42% year-on-year to EGP 355.3.
Lecico said the opening of its new tile plant in 2011 also boosted sales but expects a slight drop in third quarter net income due to reduced production during the Muslim fasting holy month of Ramadan, which began in late July.
