ArabFinance: Delta Sugar posted a 75% Year on Year fall in its net profit in the first half (H1) of 2020, according to the company’s July 28th financial statements filed to the Egyptian Exchange.
Net profit stood at EGP 52,138,314 in H1 2020, compared to EGP 211,070,105 posted in H1 2019.
Delta Sugar attributed the profit decline to the coronavirus repercussion that resulted in decreasing the sugar price.
The company decided to distribute annual cash dividends of EGP 2.5 per share, totalling EGP 710,990,375.
Delta Sugar is an Egypt-based shareholding company that operates in the food processing industry sector. The company is engaged in the manufacture of white sugar and related products. It operates one factory, which produces over 270,000 tons of white sugar annually.
