Cairo – Mubasher: International Agricultural Products reported a 23.8% year-on-year profit rise during fiscal year 2018/2019.  

Net profits hiked to EGP 122 million from July 2018 to last June, compared to EGP 98.49 million in the year-ago period, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

Net sales increased to EGP 507.06 million in FY18/19 from EGP 404.35 million in FY17/18.

It is noteworthy that during the first nine months of FY18/19, the company posted a profit of EGP 113.29 million, compared to EGP 83.37 million in the same period a year earlier.

Sales grew to EGP 364.03 million in the nine-month period ended 31 March from EGP 304.06 million in the prior-year period.