Egypt-based packaging material manufacturer Delta Co. for Printing & Packaging SAE announced its financial results for the first nine months of the current year 2021, showing a decline in profits by 31% year on year.
The company stated recently that it achieved a nine-month net profit of 17 million Egyptian pounds during the period starting January to September, 2021, compared to 24.64 million pounds a year ago during the same period. The decrease in profits was attributed to the increase in cost of sales during the period as compared to the same period in the year 2020.
However, the company registered a rise in its revenue during the period to a tune of 190.44 million pounds, compared to 172.01 million pounds for the same period in the previous year.
Delta recorded a H1 net profit of 12.05 million pounds from the beginning of January until the end of last June, compared to 15.8 million pounds for the same period in 2020.
The company’s H1 net sales rose to 111.94 million pounds ending June 2021, versus 107.35 million pounds during the same period last year.
Located in the northern Egyptian city of New Borg El Arab in the Alexandria Governorate, Delta Co. for Printing and Packaging SAE is engaged in the manufacture of packaging materials. The Company is active in producing, manufacturing and printing packaging and wrapping materials, especially cardboard, paper, plastic and multi-layer materials.