ECAP incurs Losses of L.E24.7m in 2011

El Ezz Ceramics & Porcelain (Gemma) (ECAP) has incurred a net loss of L.E24.715 million during the fiscal year of 2011, compared to a net loss of L.E2.668 million in 2010. The ECAP’s sales during 2011 have risen to reach L.E431.944 million, compared to sales of L.E411.502 million in 2010. Therefore the growth rate amounted to 5%.

Yet, the ECAP’s total profits, after excluding the sales costs, have dropped to 24% to reach L.E75.752 million, compared to L.E100.075 during the fiscal year of 2010.

The ECAP’s share have reached L.E0.48 during 2011, compared to L.E0.05 the share value in 2010.

The working capital has decreased by 47% to reach L.E60.458 million, compared to L.E41.218 million in 2010.  The stakeholders’ rights have downed by 8% to reach L.E280.835 million, compared to L.E305.551 million in 2010.

Amwal Al Ghad