Lecico Egypt Posts FY13 Net Loss of EGP17 million

Egyptian ceramics maker Lecico Egypt (LCSW.CA) said on Monday it incurred a consolidated net loss of 16.951 million Egyptian pounds ($2.43 million) throughout the fiscal year ended on December 31, 2013. In comparison, Lecico made a FY2012 consolidated net profit of  61.842 Egyptian pounds ($8.88 million).

Moreover, the Alexandria-based company reported a decline in its FY2013 standalone net profit which hit 40.573 million Egyptian pounds ($5.83 million), versus 89.453 million Egyptian pounds ($12.85 million) from a year earlier.

Lecico Egypt, founded on November 1st of 1975, works in producing and selling sanitary ware and ceramic tiles, including ceramic floor and wall tiles; producing sanitary ware products such as bathroom sets, consoles, washbasins and accessories for home and professional use.