At the beginning of this week, Shorouk for Modern Printing and Packaging Company in Egypt announced the results of its consolidated and independent business during the year 2020, and the results of the company’s combined business showed a significant growth in net profit, jumping about 169.5%, compared to 2019.
According to the company’s announcement, the combined net profits for the year 2020 amounted to 162.72 million pounds, compared to 60.36 million pounds in 2019.
Independent business results for the same period showed a net profit of 124.10 million pounds, compared to 80.43 million pounds during the comparative period.
The company’s sales in the independent financial statements amounted to 774 million pounds, compared to 756 million pounds in 2019.
Al-Shorouk Modern Printing and Packaging Company – an Egyptian joint stock company – was established according to the decision of the President of the General Authority for Investment and Free Zones in 1999. The company kick started its activity in October 2000 as a one stop shop for a wide range of printing jobs including packaging and commercial printing.
The merger of Al-Shorouk Printing Press and Al-Shorouq Modern Printing and Packaging Company took place in 2001.