Cairo – Mubasher: The financial statements of Universal for Paper and Packaging Materials (Unipack) showed a 17.3% year-on-year decline in its net profits during 2019.

The company’s net profits retreated to EGP 25.37 million last year from EGP 30.7 million in 2018, according to a bourse disclosure on Sunday.

In the meantime, the company’s sales fell to EGP 441.14 million in 2019, compared to EGP 528.4 million in the previous year.

In addition, the company’s board of directors recommended a cash dividend distribution of EGP 19.25 million or EGP 0.25 per share for 2019.

It is noteworthy to mention that during the January-September period of 2019, the company’s net profits dropped to EGP 21.09 million from EGP 26.25 million in the year-ago period.