Cairo – Mubasher: Asec Company for Mining (ASCOM) incurred consolidated net losses after tax valued at EGP 331.82 million in 2024, against net profits worth EGP 1.95 billion as of 31 December 2023.

Revenues from contracts hiked to EGP 3.22 billion last year from EGP 1.92 billion during 2023, according to the financial results.

Basic and diluted loss per share hit EGP 15.29 at the end of 2024, compared to EGP 1.43 a year earlier.

Standalone Results

In the 12-month period that ended on 31 December 2024, ASCOM shifted to net losses amounting to EGP 750.46 million, against net profits of EGP 35.01 million in 2023.

Non-consolidated revenues jumped to EGP 438.84 million from EGP 352.66 million.