Cairo – Mubasher: The consolidated financial statements of Egypt Free Shops on Tuesday showed an 8.8% year-on-year decline in its profits in the nine-month period ended March 2018.

The company generated a profit of EGP 76.33 million from July 2017 to March 2018, down from EGP 83.65 million in the same period a year before, according to a statement to the Egyptian Exchange (EGX).

Egypt Free Shops’ total revenue rose to EGP 358.8 million in July to March, from EGP 301.3 million in the year-ago period.

The EGX-listed firm posted a standalone profit of EGP 76.5 million in the July-March period, compared to EGP 83.7 million in the comparative period of 2017.

Sales increased to EGP 198.9 million during the first half of the current fiscal year, from EGP 185.19 million in the corresponding period in the year before.