Cairo – Mubasher: Asec Company for Mining (ASCOM) logged consolidated net profit after tax amounting to EGP 2.25 billion in the first nine months (9M) of 2023, an annual leap from EGP 118.24 million, including minority interest.
Revenues stood at EGP 1.41 billion in 9M-23, higher year-on-year (YoY) than EGP 998.53 million, according to the consolidated financial results.
Basic and diluted earnings per share (EPS) surged to EGP 40.70 in January-September 2023 from EGP 2.50 a year earlier.
Total assets hit EGP 5.32 billion in 9M-23, marking an increase from EGP 2.22 billion as of 31 December 2022.
Standalone Business
ASCOM turned profitable at EGP 15.22 million during the nine-month period that ended on 30 September 2023, against standalone net losses valued at EGP 55.21 million in 9M-22.
Non-consolidated revenues jumped to EGP 251.06 million in 9M-23 from EGP 158.89 million in the year-ago period, while loss per share enlarged to EGP 1.78 from EGP 0.87.
Financials for Q3-23
During the third quarter (Q3) of 2023, the company posted YoY higher consolidated net profits at EGP 2.21 billion, compared to EGP 68.49 million, including non-controlling interest. The recorded profits were higher than EGP 38.58 million in Q1-23.
The revenues hiked to EGP 475.23 million in Q3-23 from EGP 357.32 million in Q3-22, while the basic and diluted EPS widened to EGP 42.40 from EGP 1.20.
In July-September 2023, the EGX-listed company registered EGP 10.05 million in standalone net profit after tax, compared to net losses worth EGP 18.74 million a year earlier. Meanwhile, the revenues climbed to EGP 92.74 million from 52.40 million.
