Univert Food Industries H1 profits fall 10.6%

Egypt’s Univert Food Industries (UNFO.CA) reported a decline of 10.6 percent in profits in the first half of the year, according to a bourse statement.

Net profit fell to 1.39 million Egyptian pounds ($156,000) from 1.56 million Pounds ($175,000) in the same period a year ago.

Net sales stood at 21.35 million pounds, 63.8 percent higher year-on-year from 13 million pounds.

In the first quarter, the company posted net profit of 836,450 Egyptian pounds ($94,400).