Extracted Oils’ profits leap 370% YoY in Q1 FY2023/24: Egypt

The company recorded net profits after tax of EGP 3.868 million in Q1 of this FY, compared to EGP 822,000 in the previous FY

Staff Writer, Arab Finance

November 6, 2023

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Extracted Oils and Derivatives Company (ZEOT) posted a 370% year-on-year (YoY) surge in net profits after tax during the first quarter (Q1) of fiscal year (FY) 2023/2024, according to the company’s financial indicators filed to the Egyptian Exchange (EGX) on November 5th.

The company recorded net profits after tax of EGP 3.868 million in Q1 of this FY, compared to EGP 822,000 in the previous FY.

Moreover, the company generated revenues of EGP 1.014 billion in the July-September period, up by 43.9% YoY from EGP 704.723 million.

Extracted Oils and Derivatives, an affiliate of Holding Company for Food Industries, is engaged in the extraction and production of oil from animals and vegetables, as well as the manufacture, packaging, and trade of industrial and liquid soaps and detergents.

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