Cairo – Mubasher: Delta Sugar Co posted a 10% year-on-year profit drop in the first quarter of 2019.
The Egyptian firm’s profits retreated to EGP 70.49 million in the first three months of 2019 from EGP 78.4 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX) on Tuesday.
Meanwhile, sales surged to EGP 926.1 million in Q1-19, compared to EGP 243.5 million in Q1-18.
The company ascribed Q1-19 profit decline to higher industrial expenses.
For the full-year 2018, Delta Sugar’s profits slid 28.7%, logging EGP 343.74 million from EGP 482.5 million in 2017.
