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Delta Sugar amends net profits of FY 2019

Delta Sugar amends net profits of FY 2019

ArabFinance: Delta Sugar (SUGR) announced, in a statement sent to EGX, the Board of Directors (BoD) held on Feb. 23.

The board approved financial results after being scrutinized which revealed posting tax-deducted profits of EGP 42.891 million in the financial year 2019, compared to net profits of EGP 343,741,619 a year earlier, with an 88% profit decrease.

The settlements in expenditures, revenues and inventories caused to lowering the net profit from the last announced results, the company said.

The board proposed cash distribution of EGP 0.25 per share, representing 5% of share's par value. 

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