Egypt’s Delta Sugar net profits surpass $32mln in H1

Egypt’s Delta Sugar net profits surpassed 1.08 billion Egyptian pounds during the first half (H1) of 2023, with a 100 percent surge from 544 million pounds in H1-22.

Revenues reached 3.53 billion pounds in January-June 2023, rising by 41 percent from 2.50 billion pounds during the same period last year.

The basic earnings per share (EPS) soared by 100 percent year-on-year (YoY) to 6.23 pounds in the first six months of 2023 from 3.12 pounds.

During the first quarter (Q1) of 2023, the EGX-listed firm recorded net profits after tax of 323.78 million pounds, with a jump of 321 percent, up from 76.81 million pounds.

The sales inched up by 29 percent to reach a value of 773.48 million pounds during Q1-23, going up from 601.31 million pounds in Q1-22.