Delta Sugar swings to loss in 2020 modified results

Cairo – Mubasher: The modified unaudited financial results of Delta Sugar showed net losses of EGP 253.95 million during 2020, against net profits of EGP 42.89 million a year earlier.

The negative turn in the annual financial results was attributed to falling prices of sugar locally and globally due to the economic disruption caused by the coronavirus (COVID-19) pandemic, the company said in a bourse disclosure on Thursday.

Revenues increased to EGP 3.24 billion last year, compared to EGP 2.36 billion in 2019.

During the first nine months of 2020, Delta Sugar incurred net losses of EGP 62.25 million, versus net profits of EGP 153.5 million in the year-ago period.

Mubasher Contribution Time: 18-Feb-2021 08:39 (GMT)
Mubasher Last Update Time: 18-Feb-2021 08:39 (GMT)