Lecico Egypt’s Q1 Net Profits 2% Up
Egyptian ceramics maker Lecico Egypt (LCSW.CA) said on Tuesday it made a net profit of 12.7 million Egyptian pounds ($2.10 million) in the first quarter of 2012, up 2 percent from a year earlier.
Sales grew 33 percent from the same period a year earlier to 287.5 million pounds and earnings before interest and tax climbed 20 percent to 35.6 million pounds, the company said in a statement on its website.
It attributed the sales gain to a continued recovery in the Libyan market, growing regional demand for its tiles and growth of sanitary-ware sales to new markets and equipment manufacturers in Europe.
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.
