Cairo – Mubasher: Egypt Free Shops achieved a surge of 41.9% in its standalone net profits after tax to EGP 95.38 million during the first half (H1) of fiscal year (FY) 2021/2022, compared to EGP 67.20 million in H1-20/21.

Sales increased to EGP 460.94 million in July-December 2021 from EGP 348.89 million in the corresponding six months a year earlier, according to a bourse disclosure on Wednesday.

During the second quarter (Q2) of FY21/22, Egypt Free Shops posted net profits worth EGP 48.99 million, compared to EGP 44.14 million in Q2-20/21.

Sales in Q2-21/22, which ended on 31 December 2021, amounted to EGP 228.72 million, up from EGP 207.57 million during the same three months in the previous year. 

During Q1-21/22, the company’s standalone net profits soared jumped to EGP 46.38 million from EGP 23.05 million in July-September 2020.