Cairo – Mubasher: Development and Engineering Consultants Co’s (DAPH) net profit dropped by 79% year-on-year during the first nine months of 2019, the company’s consolidated financial statements showed.

The company’s net profit plunged to EGP 14.3 million from January to September 2019, compared to EGP 69.3 million in the year-ago period, according to a bourse statement.

Sales dropped to EGP 115.1 million in the January-September period, against EGP 167.9 million a year earlier.

It is worth highlighting that DAPH’s unconsolidated net profit surged 281% YoY to EGP 21.7 million from January to September 2019.