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Extracted Oils switches to profitability in FY 2021/22

Extracted Oils switches to profitability in FY 2021/22

ArabFinanceExtracted Oils and Derivatives Company (ZEOT) turned to profitability during the fiscal year (FY) 2021/2022, according to financial indicators filed to the Egyptian Exchange (EGX) on Thursday.

The company reported a net profit after tax of EGP 17.37 million in the FY that ended on June 30th, compared to a net loss of EGP 20.552 million in the same period a year earlier.

Revenue grew to EGP 2.828 billion in FY 2021/2022 from EGP 1.881 billion the year before.

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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