Egypt's Lecico Q1 net profit drops 54 pct

Reuters, Thursday 5 May 2011

Egyptian ceramics firm Lecico made a net profit of 12.5 million Egyptian pounds in the first quarter of 2011, a 54 per cent drop from the same period a year ago, the firm said on Thursday.

Revenue fell 18 per cent to 88 million pounds, driven by a 19 per cent decrease in volumes to 4.9 million square metres.

The margin on earnings before interest and tax slipped to 13.8 per cent from 17.6 per cent, the company said in a statement.


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