Total revenue increased by 29.7% Y-o-Y (119.1% Q-o-Q) from EGP 2.96 Bn to EGP 3.83 Bn due to the increase in the company's export revenue by 200-250% (Y-o-Y) and exports reached about 60% of the production volume.
Gross profit increased by 48.9% Y-o-Y (145.8% Q-o-Q) from EGP 613 M to EGP 912.56 M and gross profit margin increased by 3.1 points Y-o-Y from 20.7% to 23.8% due to the increase in revenues with an increase in COGS at a lower pace which increased by 24.7% Y-o-Y compared to an increase in revenue by 29.7% Y-o-Y.
Operating profit increased by by 62.4% Y-o-Y (150.4% Q-o-Q) from EGP 756.6 M to EGP 1.92 Bn and the operating profit margin increased by 3.8 points from 15% to 18.8% due to the decline in general and administrative expenses by 27.4% Y-o-Y to EGP 43.14 M compared to EGP 59.45 M in 1H 2023.
Net profit increased by 99.7% Y-o-Y (170.2% Q-o-Q) from EGP 212.48 M to EGP 424.27 M. and the net profit margin increased by 3.9 points Y-o-Y from 7.2% to 11.1% despite the increase in financing expenses to EGP 170.6 M compared to 64.21 M in 2023 Q4.
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