The public shareholding company is engaged in farming, trading, and distribution of crops and seeds. The company purchases cotton flowers and cotton seeds from producers, undertakes contracting activities with cotton ginning companies, and trades in cotton fibers and seeds.
International Agricultural Products sees 84% profit decline
Updated 6/14/2020 2:40:00 PM
ArabFinance: International Company for Agricultural Products (IFAP) posted an 84% Year on Year plunge in its net profit in the nine-month period ended March 31st, according to a June 14th financial statements filed to the Egyptian Exchange.
Net profit stood at EGP 17,997,670 in the nine-month period of fiscal year (FY) 2019/2020, compared to EGP 113,296,548 achieved in the prior-year period.
In the first half of FY 2019/2020, the company posted a net profit of EGP 7,212,016, compared to EGP 103,955,269 in the same period a year ago.
