Engineer Sedky said that the network loss is expected to reach 18.21% for the fiscal year 2022/2023, while the actual loss rate of the FY 2021/2022 was 22.188 percent.
The Ministry stated in a recent report that the whole world is in an unprecedented state of challenges in light of the outbreak of the Corona pandemic, whose severity and economic, social and environmental repercussions have exceeded all previous crises.
The company attributed the loss to the decrease in sales volume, which was affected by the state of the markets, in addition to continuing to sell stagnant stock for years, unlike the porcelain factory, which achieves losses according to the expected aging of machinery and equipment.
It recorded losses amounting to LE 437.05 million during the period from July to the end of December, compared to losses amounting to LE 478.18 million during the same period of the previous fiscal year.
Some vital sectors such as tourism, hotels, and civil aviation were negatively affected by the virus.
The company’s indicators showed that the operating profits hit LE 729.28 billion during the 2020 period, compared to LE 788.65 billion during the compared period of 2019.
As per standalone results, the company recorded losses of LE 51.93 million, compared to losses of LE 20.55 million in the nine months of 2019.
The death toll following a huge and deadly explosion in Lebanon’s capital of Beirut rose to 135.
As per standalone results, Orascom turned into loss by LE 253.33 million in 2019, compared to profits of LE 58.79 million during 2018.
According to the company’s financial results, revenues declined to LE 243 million in 2019, compared to LE 342.7 million in prior year.
As per standalone results, Orascom turned into loss by LE 295.19 million, compared to profits of LE 175.1 million during January-September period of 2018.
As per standalone results, Orascom recorded a loss of LE 129.57 million, compared to LE 33.96 million during the first quarter of 2018.
The EGX 30 benchmark decreased 0.16 percent, closing at 15,111.09 points.
As per standalone results, Global Telecom deepened its loss during January to September period to $338.7 million, compared to a loss of $84.5 million during the same period of 2017.
Qatar Airways has suffered a $69 million loss this fiscal year, showing the challenges still facing Doha.
As per standalone results, the loss decreased 73.9 percent to reach LE 264 million, compared to LE 1.01 billion during the same period of 2017.
As per standalone results, the company’s loss increased 41.62 percent, to LE 63.37 million, up from LE 44.75 million in the same period of 2017.
A filing to the Egyptian Exchange showed that the company recorded a loss of LE 38.3 million in 11 months ending in May 2018.
As per standalone results, the indicators also showed a turn into loss with an amount of LE 33.96 million during the period of January-to-March in 2018.
The company’s financial indicators showed a total loss of LE 486.1 million during the same period of the current fiscal year.