National companies overcome the repercussions of “Corona” with moderate profitsTruth Consultancy
Reda Mosallam, partner and general manager of “Truth” for economic and management consultancy, affirmed that the direct reasons leading to the coherence of the companies ’results are the full coordination between local governments and the federal government to follow up the devastating effects of the pandemic, develop appropriate solutions to confront it, and also summon the Crisis Management Committee and the sustainability of its meetings, which issued a set of incentives. And important barriers during the pandemic, expecting a significant improvement in corporate results during the second half, in light of the government’s success in controlling the pandemic.
He said that the companies ’results showed unexpected performance and important results that prove the strength and durability of their financial positions, which is mainly due to several factors, on top of which is the superiority of the state’s infrastructure in its comprehensive sense, in addition to the strength of the economy and financial surpluses represented by sovereign funds, in addition to government incentives and state ownership. An advanced government administration that has the best tools to support and support its economy in accordance with international best practices.
He added that the state has a professional banking apparatus that works according to a system compatible with the best international practices, as well as the presence of crisis management ready to face disasters and crises of any kind, and therefore the listed public shareholding companies operate in this environment and climate, as they are practicing their business in a model incubator to carry out these businesses with confidence.