Cairo Poultry’s consolidated profit jumps 80.5% YoY in 9 months

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Cairo Poultry Company (CPC) (POUL) reported an 80.47% year-on-year (YoY) hike in consolidated attributable to the parent company during the first nine months of 2022, according to financial statements filed to the Egyptian Exchange (EGX) on November 10th.

The company’s consolidated profit excluding minority interest jumped to EGP 219.489 million in the nine months ended September 30th from EGP 121.618 million in the same period a year earlier.

Consolidated sales surged to EGP 4.718 billion in January-September from EGP 3.653 billion in the year-ago period.

As for standalone financials, the company registered a net profit after tax of EGP 283.209 million in the nine-month period ended September 30th, compared to a net loss of EGP 42.556 million in the prior-year period.

CPC, a subsidiary of Kuwait Food Company, is an Egypt-based company that operates in the farming and food processing sectors.

The listed firm focuses on breeding and fattening chicks, producing animal feed, and hatching eggs, as well as participating in similar projects inside and outside Egypt.