Cairo – Mubasher: Cairo Poultry reported a 20.7% year-on-year profit drop during 2019, the company’s consolidated financial statements showed.
The company’s net profits after taxes fell to EGP 116.9 million last year from EGP 147.62 million in 2018, according to a statement to the Egyptian Exchange (EGX) on Wednesday.
Meanwhile, sales went down to EGP 4.4 billion in 2019, compared to EGP 4.57 billion in the previous year.
As for standalone financials, the company’s net profits grew to EGP 17.96 million last year from EGP 14.99 million in 2018.
It is worth mentioning that during the first nine months of 2019, Cairo Poultry’s net profits hiked to EGP 153.22 million from EGP 100.3 million in the corresponding period a year earlier.
