Cairo – Mubasher: The National Company for Maize Products on Monday announced that its profits soared 318.5% year-on-year in the first half of 2017 on the back of increasing sales.

The company posted profits of EGP 128.78 million in H1-17, compared to EGP 30.7 million in H1-16, according to a statement to the Egyptian Exchange (EGX).

National Maize Products’ sales surged to EGP 738.8 million in H1-17, from EGP 412.8 million in the same period in the year before.

The EGX-listed company achieved EGP 91.76 million profits in the first three months of 2017, compared to EGP 11.57 million in the corresponding period in the year earlier.

The company’s stock increased 2.24% to EGP 47.03 on Monday.