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Delta Sugar’s profits shrink 47% in 9M-19

Delta Sugar’s profits shrink 47% in 9M-19
Revenues rose to EGP 1.8 billion in 9M
Delta Sugar
SUGR
2.80% 8.01 0.22

Cairo - Mubasher: The financial indicators of Delta Sugar showed a 47% year-on-year decline in profits during the first nine months of 2019.

The profits totalled EGP 153.5 million in the January-September 2019 period when compared to EGP 287.8 million a year earlier, according to a disclosure to the Egyptian Exchange (EGX) on Tuesday.  

Revenues rose to EGP 1.8 billion during the nine-month period from EGP 1.5 billion in the corresponding period in 2018.

Delta Sugar attributed the drop in profit to lower average sales of products due to a global decrease in sugar prices.

As for the first half of 2019, the company’s net profit registered EGP 211.07 million when compared to EGP 255.81 million in H1-18.