Arab Finance: Misr Duty Free Shops reported a 76.8% year-on-year (YoY) increase in consolidated profit attributable to majority shareholders during the first half (H1) of 2023, recording EGP 294.422 million, compared to EGP 166.531 million, according to the financial statements filed to the Egyptian Exchange (EGX) on August 7^th.

Sales surged to EGP 1.141 billion in H1 2023 from EGP 826.490 million in H1 2022.

The company’s standalone net profit after tax rose to EGP 294.361 million in the six-month period ended June 30th from EGP 166.262 million in the same period in 2022.

Established in 1975, the public shareholding company is engaged in the import and sale of duty-free goods in foreign and local currencies. It also sells products to consumers without being exempted from taxes in sales fairs at air, sea, and land ports. In addition, it offers several brands and types of alcoholic beverages, tobacco, fragrances, gift items, electrical and household appliances, and housewares.

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