Misr Duty Free Shops’ standalone profit rises 144.1% YoY in Q1 FY2023/24

Reuters/Asmaa Waguih

Established in 1975, the public shareholding company is engaged in the import and sale of duty-free goods in foreign and local currencies

Staff Writer, Arab Finance

October 30, 2023

PHOTO

Misr Duty Free Shops has reported a 144.06% year-on-year (YoY) increase in standalone profits after tax during the first quarter (Q1) of fiscal year (FY) 2023/2024, recording EGP 118.815 million, compared to EGP 48.682 million, according to the financial statements filed to the Egyptian Exchange (EGX) on October 29th.

Sales surged to EGP 462.762 million in Q1 FY 2023/2024 from EGP 227.010 million in Q1 FY 2022/2024.

Established in 1975, the public shareholding company is engaged in the import and sale of duty-free goods in foreign and local currencies.

It also sells products to consumers without being exempted from taxes in sales fairs at air, sea, and land ports. In addition, it offers several brands and types of alcoholic beverages, tobacco, fragrances, gift items, electrical and household appliances, and housewares.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.