Cairo – Mubasher: Extracted Oils & Derivatives Company (Extracted Oils) reported a 46% year-on-year net profit in the first nine months of fiscal year 2018/2019.

The Egyptian firm’s net profits amounted to EGP 11.9 million from July 2018 to March, compared to EGP 8.16 million in the year-ago period, according to a statement to the Egyptian Exchange (EGX) on Sunday.

Meanwhile, revenues increased to EGP 1.74 billion by the end of March from EGP 1.32 billion in the corresponding period a year earlier.

The profit growth was attributed to higher sales and lower expenses of commodity requirements, the statement noted.  

As for the first half of FY18/19, the company’s net profits rose to EGP 7.71 million from EGP 7.08 million in the year-ago period.

In addition, revenue increased to EGP 1.06 billion from July to December, compared to EGP 961.2 million in the corresponding period a year earlier.