Cairo – Mubasher: Cairo Poultry on Tuesday reported a 68% year-on-year decline in its consolidated profits for the first nine months of 2018.

Net profit amounted to EGP 100.2 million in the nine-month period ended September, versus EGP 316 million in the prior-year period, the company said in a filing to the Egyptian Exchange (EGX).

Revenues rose slightly to EGP 3.4 billion at the end of September, from EGP 3.2 billion in the year-ago period.

At the level of standalone business, the company generated EGP 26.9 million in profits for the nine-month period, against EGP 2.6 million in the corresponding period of 2017.

Cairo Poultry previously posted an 81.4% year-on-year decline in consolidated profits for the first half of 2018, recording EGP 41.1 million, versus EGP 221.4 million.

Revenues increased by 4% to EGP 2.24 billion in the six-month period ended June, compared to EGP 2.12 billion in H1-17.