KABO H1 profits down 60% on lower revenue

Revenues declined

Cairo – Mubasher: The profits of El Nasr Clothing and Textiles (KABO) decreased by 60.46% on an annual basis during the first half (H1) of fiscal year (FY) 2019/2020, due to lower revenues.

Profits shrank to EGP 7.3 million during the six-month period, compared to EGP 18.5 million in the same period a year earlier, according to a statement to the Egyptian Exchange (EGX) on Wednesday.

Revenues declined to EGP 159.33 million in H1-FY19/20 from EGP 191.23 million in H1-FY18/19.

It is worth noting that during the period from July to September of last year, KABO recorded a loss of EGP 4.1 million, versus a profit of EGP 6.52 million in the corresponding period a year earlier.

Source: Mubasher

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