Cairo – Mubasher: The standalone financial statements of Egypt Free Shops showed net profits of EGP 67.2 million in the first half (H1) of fiscal year 2020/2021, down by 7.5% year-on-year (YoY) from EGP 72.6 million.

Revenues slid to EGP 353.36 million in the July-December period of 2020, compared to EGP 403.64 million in the corresponding period a year earlier, the company said in a bourse disclosure on Tuesday.

During the first quarter (Q1) of FY20/21, Egypt Free Shops reported consolidated net profits of EGP 23.61 million, compared to EGP 34.4 million in the year-ago period, including minority shareholders’ rights.

As for standalone business, the company logged EGP 23.05 million in net profits in the three-month period ended 30 September, down from EGP 34.07 million in the prior-year period.