Egypt Free Shops reported a year-on-year marginal decline in its net profits during the first half of fiscal year 2019/2020, the company’s standalone financial statements showed.
The company achieved a net profit of EGP 72.64 million in the six-month period ended 31 December, down from EGP 72.9 million in the corresponding period in 2018, according to the company’s disclosure to the Egyptian Exchange (EGX) on Monday.
Meanwhile, the company’s sales rose to EGP 394.71 million in H1-19, versus EGP 357.39 million in the same period a year earlier.
During the July-September period in 2019, the company’s standalone profits reached EGP 34.07 million from EGP 35.46 million in the same period in 2018.
It is noteworthy to mention that the company’s consolidated financial statements for FY18/19 reported profits of EGP 117.0 million, compared to EGP 100.26 million in the prior year.