Egypco reports 54% loss decline

Updated 8/13/2020 11:34:00 AM

ArabFinance: Egypt for Poultry Company (Egypco) (EPCO) reported a 54% Year on Year drop in its consolidated net profit for the first half (H1) of 2020, according to the company’s August 13th financial statements filed to the Egyptian Exchange.

Consolidated net loss stood at EGP 1,807,921 in H1 2020, compared to EGP 3,888,324 incurred in H1 2019.

Standalone net loss reached EGP 2,561,000 in H1, a 3% rise from EGP 2,490,627 incurred in H1 of 2019.

In 2019, the company suffered a consolidated net loss of EGP 490,815, a 86% decline from EGP 3.56 million a year earlier. 

However, the company achieved a standalone profit worth EGP 1.03 million in 2019, against a net loss of EGP 732,190 in 2018.

Egypco is a public shareholding company that operates in the food processing industry. It manages poultry farms and slaughterhouses, and is engaged in land reclamation and agricultural activities, as well as cattle and fish product manufacturing.