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Delta Sugar's profit jumps 559% in H1-21

Delta Sugar's profit jumps 559% in H1-21
The revenues declined to EGP 1.136 billion in the six-month period
Delta Sugar
SUGR
-6.26% 63.65 -4.25

Cairo - Mubasher: Delta Sugar recorded a 559% year-on-year (YoY) surge in its net profits to EGP 343.89 million in the first half (H1) of 2021, compared to EGP 52.13 million, the unaudited financial results showed. 

The company ascribed the profit growth to higher selling prices of sugar and beet pulp, according to a bourse disclosure on Wednesday. 

The revenues declined to EGP 1.136 billion in the six-month period ended 30 June, compared to EGP 1.171 billion in the prior-year period. 

During the first quarter (Q1) of 2021, Delta Sugar turned to net profits of EGP 76.77 million, against net losses of EGP 118.78 million in Q1-20.