Cairo - Mubasher: Egyptian Satellites Company (NileSat) on Tuesday reported a 24.8% year-on-year decline in profits for the first half of 2018 due to lower revenues.
The company logged EGP 27.12 million in net profits during the six-month period ended June, versus EGP 36.07 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX).
Revenues narrowed to EGP 73.38 million in H1-18, compared to EGP 79.71 million in the same period a year earlier.
It is worth noting that NileSat achieved a net profit of EGP 13.07 million in the three-month period ended March, versus EGP 19.7 million in Q1-17.
