Misr Duty Free Shops’ consolidated profits rise 20% YoY in 9 months

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Misr Duty Free Shops posted a 19.9% year-on-year (YoY) increase in consolidated net profits attributable to the parent company during the first nine months of FY2023/2024, as per a disclosure on May 29th.

The firm generated net profits of EGP 252.621 million in the January-March period, compared to EGP 210.78 million in the same period of 2023.

Meanwhile, total operating revenues surged to EGP 900.249 million from EGP 838.419 million.

On May 12th, the company reported a 19.4% year-on-year (YoY) increase in standalone net profits after tax during the first nine months of FY2023/2024

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.