Arab Finance: Delta Sugar recorded a 33.1% year-on-year (YoY) decrease in net profits after tax in 2023 in the first quarter (Q1) of 2024, according to a statement on May 15th.
Net profits after tax amounted to EGP 216.753 million in Q1 2024, compared to EGP 323.786 million in Q1 2023.
Meanwhile, revenues declined to EGP 593.811 million from EGP 773.484 million.
Incorporated in 1978, the company was the first to produce sugar from beets in Egypt. The first line of production was completed in 1982. The company’s factories are located in Zawiya area in el Hamoul center in Kafr el Sheikh.