DELTA SUGAR
SUGR
Financial ResultsNegative News
Delta Sugar Profits Plunge 33% Amid Rising Costs and Sales Slump
Delta Sugar's Q1-24 profits drop 33% as higher costs and lower sales impact performance.
April 30, 2024 at 8:17:00 AMScore: 85
Delta Sugar reported a sharp 33% decline in net profits after tax for Q1-24, dropping to EGP 216.75 million from EGP 323.78 million in Q1-23. The downturn was driven by soaring production supply costs and weaker sales at the start of the season. Revenues fell 23% year-on-year to EGP 592.56 million, down from EGP 773.48 million. Earnings per share (EPS) also slid 33% to EGP 1.25 in the first quarter of 2024. Despite this, the company recorded a 91% surge in net profits for 2023, hitting EGP 1.62 billion compared to EGP 850.40 million in 2022.
Recommended Actions
- Monitor Delta Sugar's cost management strategies
- Avoid short-term trading until market stability returns
- Review Q1-24 financials for recovery signals
- Compare with industry peers' performance
- Consult a financial advisor for portfolio adjustments
Negative Aspects
- 33% drop in net profits
- 23% revenue decline
- Increased production costs
- Lower sales volume
- EPS down 33%
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