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).