Egypt: ZEOT’s profits plunge 86.5% YoY in 6 months

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Revenues grew 20.9%

Staff Writer, Arab Finance

February 2, 2023

PHOTO

Egypt - Extracted Oils and Derivatives Company’s (ZEOT) net profits after tax declined 86.5% year-on-year (YoY) in the first half of fiscal year (FY) 2022/2023 to EGP 3.216 million from EGP 28.830 million, according to a filing to the Egyptian Exchange (EGX) on February 1st.

Revenues grew 20.9% to EGP 1.612 billion in the July-December period, up from EGP 1.333 billion in the same period of the FY ago.

Extracted Oils and Derivatives, an affiliate of Holding Company for Food Industries, is engaged in the extraction and production of oil from animals and vegetables, as well as the manufacture, packaging, and trade of industrial and liquid soaps and detergents.

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