Cairo – Mubasher: The consolidated financial statements of Egypt Free Shops showed net profits of EGP 108.9 million in fiscal year 2019/2020, slightly down by 7% from EGP 117 million a year earlier, including minority shareholders’ rights.
The company’s revenues slid to EGP 675.5 million in the 12-month period ended on 30 June, compared to EGP 709.9 million in FY18/19, according to a bourse disclosure on Wednesday.
As for standalone business, Egypt Free Shops logged net profits of EGP 108.87 million in FY19/20, down from EGP 116.58 million in the prior year.
It is noteworthy to mention that during the first nine months of FY19/20, the company’s net profits inched up to EGP 111.45 million from EGP 110.44 million in the corresponding period a year earlier.
