Egypt: Delta Sugar posts $22.5mln profits in 9M-24

The company reported sales amounting to EGP 2.18 billion as of 30 September 2024, down year-on-year (YoY) from EGP 5.56 billion, according to the consolidated statements

Staff Writer, Mubasher

October 23, 2024

PHOTO

Delta Sugar generated net profits valued at EGP 1.16 billion in the first nine months (9M) of 2024, marking an annual surge from EGP 2.02 billion.

The company reported sales amounting to EGP 2.18 billion as of 30 September 2024, down year-on-year (YoY) from EGP 5.56 billion, according to the consolidated statements.

Basic earnings per share (EPS) retreated to EGP 6.61 in 9M-24 from EGP 8.04 in 9M-23.

Delta Sugar attributed the lower net profits to an increase in the prices of production supplies, a decrease in the quantity of sugar sold, and higher interest in facilities.

In the three-month period that ended on 30 September 2024, the EGX-listed company posted 33% year-on-year (YoY) lower net profits after tax at EGP 216.75 million, compared to EGP 323.78 million.

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