Egypt: Delta Sugar’s net profits exceed $32mln in H1-23

Delta Sugar generated EGP 1.08 billion in net profit after tax during the first half (H1) of 2023, marking a 100% surge from EGP 544 million in H1-22.

Revenues amounted to EGP 3.53 billion in January-June 2023, higher by 41% than EGP 2.50 billion during the same period a year earlier, according to the financial results.

The basic earnings per share (EPS) climbed by 100% year-on-year (YoY) to EGP 6.23 in the first six months (6M) of 2023 from EGP 3.12.

In the first quarter (Q1) of 2023, the EGX-listed firm registered net profits after tax worth EGP 323.78 million, a 321% jump from EGP 76.81 million as of 31 March 2022.

The sales increased by 29% to EGP 773.48 million in Q1-23 from EGP 601.31 million in Q1-22, while the basic EPS hiked by 313% to EGP 1.86 from EGP 0.45.