Cairo – Mubasher: Ismailia Misr Poultry reported a 2.8% year-on-year decrease in its net profits during the first nine months of 2019.
Net profits went down to EGP 8.39 million in the January-September period, compared to EGP 8.64 million in the year-ago period, including minority shareholders’ rights, the company said in a statement to the Egyptian Exchange (EGX) on Sunday.
Net sales increased to EGP 329.58 milion in the nine-month period ended 30 September from EGP 256.18 million in the year-ago period, while the company’s cost of sales grew to EGP 303.9 million from EGP 241.07 million a year earlier.
At the level of standalone business, the company’s net profits amounted to EGP 8.455 million at the end of September, compared to EGP 3.06 million in the prior-year period.
It is noteworthy that during the first half of the year, Ismailia Misr Poultry logged a net profit of EGP 4.65 million, up from EGP 1.4 million in H1-18, including minority shareholders’ rights.
