Nilesat Gains US$32.3 Mln In 2012

The Egyptian Satellite Company (Nilesat) (EGSA.CA) has posted a net profit of US$ 32.3 million during the fiscal year of 2012, compared to a net profit of US$ 28.9 million during the same period a year earlier, to represent an increase of 11.6%.

Moreover, within 2012 the gross profits reached about US$ 48.2 million, opposed to gross profits of US$ 38.4 million during 2011, representing a growth of 25.5%.

Nilesat’s financial statements for FY/2012 have further revealed the decline in the long-term assets by 10.6%. The working capital also went up by 51.8% in 2012 backing the operation revenues’ value which increased by 10.5%.