|14 November, 2019

Egypt Free Shops’ profit edges down in Q1-19/20

Egypt Free Shops reported a 3.79% year-on-year decrease

Cairo – Mubasher: Egypt Free Shops reported a 3.79% year-on-year decrease in its consolidated profit during the first quarter of fiscal year 2019/2020.

Net profits inched down to EGP 34.4 million in the three-month period ended 30 September, compared to EGP 35.756 million in the prior-year period, the company said in a statement to the Egyptian Exchange (EGX) on Wednesday.

In the meantime, the cost of sales rose to EGP 162.179 million in the July-September period from EGP 132.901 million in the corresponding period a year earlier.

It is noteworthy that the company logged a standalone profit of EGP 34.07 million in Q1 of FY19/20, down from EGP 35.46 million in the prior-year period.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

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.

More From Markets