Cairo – Mubasher: Egypt Free Shops reported a 3.79% year-on-year decrease in its consolidated profit during the first quarter of fiscal year 2019/2020.

Net profits inched down to EGP 34.4 million in the three-month period ended 30 September, compared to EGP 35.756 million in the prior-year period, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

In the meantime, the cost of sales rose to EGP 162.179 million in the July-September period from EGP 132.901 million in the corresponding period a year earlier.

It is noteworthy that the company logged a standalone profit of EGP 34.07 million in Q1 of FY19/20, down from EGP 35.46 million in the prior-year period.