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Egypt Free Shops Q1 profit hikes 69%

Egypt Free Shops Q1 profit hikes 69%
Net profit reached of EGP 35.7 million in the three-month period ended September
Egypt Free Shops
MFSC
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Cairo – Mubasher: Egypt Free Shops on Sunday reported a 69% year-on-year rise in consolidated profits for the first quarter of fiscal year 2018/2019.

Net profit reached of EGP 35.7 million in the three-month period ended September, compared to EGP 21.16 million in the same quarter a year earlier, according to a statement to the Egyptian Exchange (EGX).

Revenue increased to EGP 182.39 million at the end of September, EGP 98.68 million in Q1-18/19.

Egypt Free Shops previously posted a 68.6% year-on-year rise in standalone profits for Q1-18/19, recording EGP 35.46 million, versus EGP 21.03 million.