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Middle East Glass Manufacturing SAE operating under the Investment law and capitalized at L.E. 40 million, fully paid up, has posted for the year 2011 about L.E. 46.7 million consolidated net profits before taxes on L.E. 359.2 million consolidated net sales among other revenues.
Figures compare with L.E. 52.3 million consolidated net profits before taxes posted for the year 2010 on L.E. 256 million consolidated net sales among other revenues. Consolidated net working capital as at 12/31/2011 increased tangibly to L.E. 45.6 million up from L.E. 30 million a year ago. Meanwhile, consolidated long term liabilities as at the same date declined to L.E. 204.8 million down from L.E. 248 million a year ago. With regards to consolidated shareholders net equity as at the same date, it has increased to L.E. 178.4 million up from L.E. 150.2 million a year ago. Chairman, also Chairman of Coca Cola Egypt is Eng. Abdul Gelil Abdul Haq.
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