Egyptian Nile Matches FY 2004 net loss widens 65.24% year-on-year
. Egyptian Nile Matches & Prefabricated Houses posted a net loss of EGP 13.81 million ($2.4 million) for fiscal 2004/05, up 65.24% year-on-year.
Dec 29, 2005. /Lesprom Network/. Egyptian matches and wooden products manufacturer Nile Matches & Prefabricated Houses posted a net loss of EGP 13.81 million ($2.4 million) for fiscal 2004/05, ended June 30, 2005, up 65.24% year-on-year.
The company's net sales fell by 31.06% to EGP 25.07 million ($4.3 million), while the cost of goods sold decreased by 15.14% to EGP 30.6 million ($5.3 million). As a result, the company registered a gross loss of EGP 5.53 million ($960 000), compared to a gross profit of EGP 305 000 ($52 900) a year earlier.