Misr Duty Free Shops’ standalone profit drops 10.38% YoY in Q1 FY2024/25
Updated 11/10/2024 10:09:00 AM
Arab Finance: Misr Duty Free Shops has reported a 10.38% year-on-year (YoY) decline in standalone profits after tax during the first quarter (Q1) of fiscal year (FY) 2024/2025, recording EGP 106.483 million, compared to EGP 118.815 million, according to the financial statements filed to the Egyptian Exchange (EGX) on November 10th.
Net sales surged to EGP 358.861 million in Q1 FY 2024/2025 from EGP 462.762 million in Q1 FY 2023/2024.
Established in 1975, the public shareholding company is engaged in the import and sale of duty-free goods in foreign and local currencies.
It also sells products to consumers without being exempted from taxes in sales fairs at air, sea, and land ports. In addition, it offers several brands and types of alcoholic beverages, tobacco, fragrances, gift items, electrical and household appliances, and housewares.
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