Cairo – Mubasher: East Delta Flour Mills reported a 22% year-on-year (YoY) drop in its net profits during the first nine months of fiscal year 2019/2020.
The company’s net profits fell to EGP 76.11 million during the nine-month period ended on 31 March, compared to EGP 97.63 million in the prior-year period, according to a bourse disclosure on Sunday.
Meanwhile, revenues declined to EGP 351.3 million from July 2019 to the end of last March, compared to EGP 383.3 million in the corresponding period a year earlier.
It is noteworthy to mention that in the first half of FY19/20, the company’s net profits went down to EGP 49.94 million from EGP 65.9 million in the year-ago period.
