Cairo- Mubasher: The financial statements of Rubex International for Plastic and Acrylic Manufacturing revealed a 346.05% year-on-year profit hike during the first half of 2019.
Year-on-year, the company’s net profits soared to EGP 6.79 million in H1-19 from EGP 1.52 million, the company disclosed to the Egyptian Exchange (EGX) on Wednesday.
Revenues rose to EGP 102.78 million during H1-19, when compared to EGP 82.29 million in H1-18.
The company attributed the increase in profits to its continuous efforts in constructing industrial factories, hence, tremendously controlling operating costs.
Previously, Rubex International has won important tenders of supply contracts to one of the national projects in the New Administrative Capital. The company has further begun to work in the UPVC doors and windows manufacturing in collaboration with a sister company.
It is worth pinpointing that during the first quarter of 2019, Rubex International’s net profits hiked to EGP 8.55 million, when compared to about EGP 387,570 in Q1-18
