Cairo – Mubasher: 

Delta Sugar Co on Monday announced a 370% year-on-year surge in net profits for the first nine months of 2017 due to higher sales.

The company achieved EGP 398 million between January and September, up from EGP 84.7 million in the year-ago period, according to a filing to the Egyptian Exchange (EGX).

Meanwhile, gross profits grew 309% to EGP 621.15 million in the nine-month period ended September, versus EGP 151.98 million in the prior-year period, Delta Sugar revealed.

Sales rose 22% to EGP 1.8 billion in the period from January to September, compared to EGP 1.4 billion in the year-ago period.

The EGX-listed company had previously posted a 466% year-on-year leap in net profit to EGP 350.6 million in the first half of 2017 from EGP 61.9 million. Moreover, sales had amounted to EGP 1.4 billion in H1-17 from EGP 955 million in H1-16.

By the end of Monday’s trading session, Delta sugar’s stock slipped 0.07% to EGP 28.51.