Cairo – Mubasher: The unaudited financial results of Extracted Oils & Derivatives Company showed a 175.3% year-on-year (YoY) leap in its net profits, logging EGP 4.88 million in the first half (H1) of fiscal year 2020/2021, compared to EGP 1.77 million.

Revenues grew to EGP 870.4 million in the July-December period of 2020 from EGP 848.34 million, the company said in a bourse disclosure on Monday.

The surge in profits was ascribed to lower provisions allocated by the company in H1 of FY20/21, which is EGP 3.51 million lower than the provisions allocated in H1 of FY19/20 at a value of EGP 5.42 million.

During the first quarter (Q1) of FY20/21, the company reported net profits of EGP 1.61 million, down from EGP 3.83 million in the prior-year period.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (

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.