Cairo – Mubasher: The consolidated financial statements of Asec Company for Mining (ASCOM) showed a turn to profits during the first half of 2019.

The company logged a profit of EGP 2.04 million in the six-month period ended 30 June, against a loss of EGP 9.3 million in the year-ago period, including minority shareholders’ rights, according to a filing to the Egyptian Exchange (EGX) on Thursday.

In the meantime, revenues rose to EGP 502.8 million in H1-19, compared to EGP 454.6 million in H1-18.

As for the second quarter of 2019, ASCOM’s profits rose to EGP 12.5 million from EGP 4.5 million in Q2-18.

Moreover, the company’s H1-19 standalone financials showed a profit of EGP 2.7 million, compared to EGP 36.28 million in H1-18.