Egypt: ZEOT’s profits plunge 86.5% YoY in 6 months

Extracted Oils and Derivatives Company’s (ZEOT) net profits after tax declined 86.5% year-on-year (YoY) in the first half of fiscal year (FY) 2022/2023 to EGP 3.216 million from EGP 28.830 million, according to a filing to the Egyptian Exchange (EGX) on February 1st.

Revenues grew 20.9% to EGP 1.612 billion in the July-December period, up from EGP 1.333 billion in the same period of the FY ago.