Cairo – Mubasher: Delta Sugar Co reported a 17.49% year-on-year profit decline during the first half of 2019.
Net profits retreated to EGP 211.07 million in the six-month period ended 30 June from EGP 255.81 million in the prior-year period, the company said in a statement to the Egyptian Exchange (EGX) on Thursday.
On the other hand, revenues hiked by 61.18% year-on-year to EGP 1.366 billion from January to June, compared to EGP 847.95 million.
Meanwhile, financing expenses fell to EGP 62 million in H1 from EGP 83 million in the year-ago period.
During the first quarter of 2019, the company’s net profits declined to EGP 70.49 million from EGP 78.4 million in Q1-18.
Meanwhile, sales soared to EGP 926.1 million in the three-month period ended 31 March, compared to EGP 243.5 million in the corresponding period a year earlier.
The Q1-19 profit drop was attributed to higher industrial expenses.
