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Delta for Printing's profit leaps 89% in 2020; dividends proposed

Delta for Printing's profit leaps 89% in 2020; dividends proposed
The company generated EGP 245.49 million in sales last year
Delta for Printing & Packaging
DTPP
-100.00% 25.20 -23.79

Cairo – Mubasher: The net profits of Delta for Printing and Packaging jumped by 89.1% year-on-year (YoY) to EGP 37.08 million in 2020, compared to EGP 19.6 million a year earlier.

The company generated EGP 245.49 million in sales last year, up from EGP 216.1 million in 2019, according to a bourse disclosure on Sunday.

The surge in net profits was ascribed to a 13.5% increase in sales, along with expanding in the local market, adding new customers, and upgrading the company’s assets.  

The board of directors recommended a cash dividend distribution of EGP 3 per share for 2020’s earnings. The distribution will be made one month after the approval of the company’s ordinary general meeting (OGM).

During the first nine months of 2020, the company logged EGP 24.64 million in net profits, up from EGP 11.56 million in the prior-year period.