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Mansoura Poultry's profit jumps 6,069% in 2020; bonus issue proposed

Mansoura Poultry's profit jumps 6,069% in 2020; bonus issue proposed
Revenues increased to EGP 156.707 million last year
Mansoura Poultry
MPCO
-0.80% 14.88 -0.12

Cairo – Mubasher: The net profits of Mansoura Poultry skyrocketed by 6,069% year-on-year (YoY) to EGP 20.24 million in 2020, compared to about EGP 326,731, the financial indicators showed.

Revenues increased to EGP 156.707 million last year from EGP 101.08 million in 2019, the company said in a bourse disclosure on Thursday.

The board of directors recommended a 0.2-for-one bonus issue to increase its issued capital. The bonus issue, still pending shareholder approval, will be financed from the company’s retained earnings.

During the first nine months of 2020, the company achieved net profits of EGP 22.8 million, up from EGP 1.97 million in the corresponding period a year earlier.