Extracted Oils profit plummets 77% YoY in H1- 2019/20

Cairo – Mubasher: Extracted Oils & Derivatives Company has reported a 77% year-on-year profit decline during the first six months of the fiscal year 2019/2020.

The company’s net profit dropped to EGP 1.77 million from July to December 2019, compared to EGP 7.71 million in the year-ago period, according to a bourse statement released on Wednesday.

Revenue plunged to EGP 848.34 million during the six-month period ended 31 December, from EGP 1.06 billion a year earlier.

It is worth noting that the unaudited financial results of Extracted Oils reported a 15% YoY increase in its net profit during the first quarter of FY19/20.

Source: Mubasher

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.