Cairo Poultry reports 38% profit decline

Cairo Poultry (POUL) reported a 38% Year on Year decline in its consolidated net profit in the first half (H1)

  
ArabFinance: Cairo Poultry (POUL) reported a 38% Year on Year decline in its consolidated net profit in the first half (H1) of 2020, according to the company’s August 16th financial statements filed to the Egyptian Exchange.

Consolidated net profit stood at EGP 78,303,951 in H1 of 2020, compared to EGP 127,478,545 achieved in H1 2019.

Standalone net loss reached EGP 34,363,405 in H1, against a net profit of EGP 27,684,004 posted in H1 of 2019.

In early May, the company agreed on Cairo Three A Group’s purchase offer to acquire its 13,654,312 shares in Egyptian Starch and Glucose Company (ESGI).

Cairo Poultry, a subsidiary of Kuwait Food Company, is an Egypt-based company that operates in the farming and food processing sectors. The company focuses on the breeding and fattening chicks, production of animal feed, and hatching of eggs, as well as participating in similar projects inside and outside Egypt.

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