EGYPT: Net profit falls at Al Ahram
Egyptian drinks company, Al Ahram Beverages Company (ABC), reported net profit of E£92.2 million (US$20m) for 2001, against E£112.9m (US$24.3m) in 2001, a drop of 18% and at the lower end of analysts' forecasts.
Turnover at the company rose by 21% from E£350m to E£425m. The company attributed the drop in profits to the decline in tourism in the region, caused by the Israeli-Palestinian conflict and latterly by the September 11 attacks.
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