Officially, Salah Hamza is Nilesat’s CTO/chief engineer, but everyone knows him as the person responsible for just about everything that happens at Nilesat’s City headquarters, near Cairo.
Hamza will go on May 1st, its board agreed last week. Hamza said only that it was something he had been contemplating for some time past. “Now it is time to enjoy life and have a rest,” he added.
Hamza leaves Nilesat in spectacular shape. Last week it declared an improved Dividend (50 cents a share) to its shareholders following record trading results for 2013 with net profit rising 43.93 per cent to $46.56 million, compared with $32.35 million a year earlier. FY13 revenues also rose 9.09 per cent to $180.91 million, from $165.84 million in FY12. Earnings per share (EPS) amounted to $1.10, compared with $0.77 in FY12.
There will be a Board Meeting on April 30th, to approve the past year’s accounts and confirm the Dividend.