Cairo – Mubasher: Cairo Poultry’s consolidated financial statements for the first nine months of 2019 reported a 53% year-on-year profit growth.

The company’s net profits surged to EGP 153.22 million in the January-September period, compared to EGP 100.3 million in the prior-year period, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

In the meantime, sales increased to EGP 3.45 billion in the nine-month period ended 30 September from EGP 3.43 billion in the corresponding period a year earlier.

As for standalone business, the company logged a net profit of EGP 18.5 million in the first nine months of the year, down from EGP 26.9 million in the year-ago period.

During the third quarter of 2019, Cairo Poultry reported a net consolidated profit of EGP 25.7 million, compared to EGP 59.24 million in Q3-18.

It is worth mentioning that during the first half of the year, the EGX-listed firm’s net profits surged to EGP 127.47 million from EGP 46.13 million in H1-18.