Cairo – Mubasher: The board of directors of Egypt Free Shops approved the planned budget for fiscal year (FY) 2021/2022.

The company targets EGP 69.47 million in net profits in the coming fiscal year and EGP 106.54 million in FY20/21, according to a bourse disclosure on Wednesday.

The budget includes targeted revenues of EGP 571 million in FY21/22, compared to estimated revenues of EGP 643.4 million in FY20/21.

During the first nine months of FY19/20, the company reported net profits of EGP 91.49 million, compared to EGP 111.452 million in the corresponding period a year earlier.