Cairo-Mubasher: Bisco Misr reported a 28.8% profits drop to EGP 14.6 million in the first half of 2015, compared to EGP 20.5 million in H2-14, according to a bourse filing.

In January, US firm Kellogg announced it had successfully acquired a major stake in the snack maker, amounting to 85.93% of total shares or 9.88 million shares at EGP 888 million ($124.2 million).

Egypt’s snack maker posted EGP 5.2 million worth of net profits in Q1-15, down from EGP 15 million in Q1-14.