ELMACO’s Profits record Dip by 42.6%

El Nasr Transformers & Electrical Products (ELMACO) (NASR) has achieved net profits of L.E24 million during the fiscal year 2011, compared to net profits reached L.E42 million in 2010. Therefore the amount of the fall reaches 42.6%. ELMACO’s revenues have witnessed a rise of 3% during 2011 to reach L.E332.885 million, compared to L.E323.624 million in 2010.

The total profits, excluding the revenues, have diminished to reach L.E53.231 million, compared to L.E76.460 million in 2010.

The basic earnings of ELMACO’s share reached L.E0.29 in 2011, compared to L.E0.81 reached in 2010. Therefore the fall amount reaches 64%.

As a result, the ELMACO’s Chairman has approved a proposal of not paying the dividends of 2011 to the shareholders and to present them to the Ordinary General Assembly to consider their accreditation.

Amwal Al Ghad