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Nilesat profits fall

June 9, 2020

By Chris Forrester

Cairo-based satellite operator Nilesat suffered further falls in profit for its first-quarter trading.

Net profits were down by 5 per cent at $10.8 million ($11.38 million a year ago).

Nilesat’s revenues declined to $32.36 million in the January-March period, compared to $32.86 million in the same period in 2019, according to a stock market disclosure on June 8th.

During the full 2019 year Nilesat’s net profit was $42.53 million (down from $53.46 million in 2018).

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