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Delta Sugar's profits plunge to EGP 58M ending Dec. 2019

Delta Sugar's profits plunge to EGP 58M ending Dec. 2019

ArabFinance: Delta Sugar (SUGR) announced, in a statement sent to EGX, the Board of Directors (BoD) held on Jan. 27.

The board approved financial results for the fiscal period ending Dec. 31, 2019, which revealed posting tax-deducted profits of EGP 57,527,740, compared to net profits of EGP 343,741,619 a year earlier, with an 83% profit decrease.

The company attributed the decrease of net profit to lowering the average prices of sugar derivatives due to the decrease of Sugar in global exchanges. 

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