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Delta Sugar profits surge 93% in H1

Delta Sugar profits surge 93% in H1
Delta Sugar company (Photo Credit: Company website)
Delta Sugar
SUGR
-6.26% 63.65 -4.25

Cairo – Mubasher: Delta Sugar reported an increase of 93% in net profits for the first half of 2016.

The Egyptian listed firm saw net profits of EGP 61.9 million in the first half of 2016, up from EGP 32 million for the same period a year earlier.

The company attributed its profit increase to a surge of around 80% in its sales through the first half of 2016 as it reached EGP 955 million, compared with EGP 529 million for the same period of the previous year.

Delta Sugar logged losses of EGP 11.5 million in the first quarter of 2016.