Egypt: Extracted Oils’ audited profits fall 65% YoY in FY2023/24

Revenues inched up 1.4% YoY to EGP 3.676 billion from EGP 3.626 billion

Staff Writer, Arab Finance

November 5, 2024

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Extracted Oils and Derivatives Company (ZEOT) posted a 64.7% year-on-year (YoY) decline in net profits after tax during the fiscal year (FY) 2023/2024, according to the company’s audited financial indicators.

The company recorded net profits after tax of EGP 8.744 million in FY 2023/2024, compared to EGP 24.744 million in FY 2022/2023.

Meanwhile, revenues inched up 1.4% YoY to EGP 3.676 billion from EGP 3.626 billion.

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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