ArabFinance: North Upper Egypt for Development and Agricultural Production (NUDAP) reported an 82% Year on Year decline in its consolidated net profit in the first half (H1) of 2020, according to the company’s August 16th financial statements filed to the Egyptian Exchange.
Consolidated net profit stood at EGP 609,752 in H1 of 2020, compared to EGP 3,390,478 achieved in H1 2019.
Standalone net profit reached EGP 203,558 in H1, a 92% decrease from EGP 2,773,902 posted in H1 of 2019.
NUDAP decided to split its shares' par value to be EGP 1 instead of EGP 10, maintaining the issued and paid-up capital unchanged, the statement added.
NUDAP is an Egypt-based public shareholding company that operates in the agricultural sector. The company is primarily engaged in producing and trading agricultural chemicals such as fertilizers, insecticides, and pesticides.
