Cairo – Mubasher: Universal for Paper and Packaging Materials (Unipack) reported a 22.47% year-on-year profit decline during the first half of 2019.
Unipack logged a net profit of EGP 14.61 million in the six-month period ended 30 June, compared to EGP 18.85 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Thursday.
Meanwhile, sales dipped by 8.65% to EGP 242.37 million in H1-19 from EGP 265.32 million in H1-18.
During the first quarter of 2019, the company’s net profit reached EGP 7.25 million, compared to EGP 11.35 million in the year-ago period.
Revenues tumbled to EGP 126.87 million in Q1-19 from EGP 132.38 million in Q1-18.
