Cairo – Mubasher: Cairo Poultry on Monday reported an 81.4% year-on-year decline in consolidated profits for the first half of 2018.

Net profit amounted to EGP 41.1 million in the six-month period ended June, versus EGP 221.4 million in the prior-year period, the company said in a filing to the Egyptian Exchange (EGX).

Revenues increased by 4% to EGP 2.24 billion at the end of June, compared to EGP 2.12 billion in H1-17.

At the level of standalone business, the company has turned profitable in H1-18 with EGP 28.4 million, against EGP 1.35 million in losses in H1-17.

It is worth noting that Cairo Poultry logged EGP 30.96 million in the three-month period ended March, compared to EGP 85.37 million in Q1-17.