Cairo – Mubasher: Extracted Oils & Derivatives Company has reported a 77% year-on-year profit decline during the first six months of the fiscal year 2019/2020.

The company’s net profit dropped to EGP 1.77 million from July to December 2019, compared to EGP 7.71 million in the year-ago period, according to a bourse statement released on Wednesday.

Revenue plunged to EGP 848.34 million during the six-month period ended 31 December, from EGP 1.06 billion a year earlier.

It is worth noting that the unaudited financial results of Extracted Oils reported a 15% YoY increase in its net profit during the first quarter of FY19/20.