A new qualitative start for Mansoura Poultry Company during the first quarter of 2024 to achieve total revenues of 168 million pounds, compared to 102.3 million pounds, with a growth rate of 64% in the first quarter of 2024.

10th of Ramadan City/Tuesday 05/28/2024 | Al-Mansoura Poultry Company LLC (registered with the code MPCO.CA on the Egyptian Stock Exchange), a leading company in the poultry sector in Egypt, which was established in 1983 and works in the field of poultry wealth, announces the results of the company’s business for the financial period ending on March 31, 2024.

During the first quarter of 2024, the company achieved revenues amounting to 158 million pounds, in addition to various other revenues amounting to 10 million, compared to what was achieved during the first quarter of 2023, which amounted to 102.3 million pounds, with a growth rate of 64%. The company achieved record results with an improvement in All financial indicators, as net profit before taxes amounted to 34,964,275 pounds, and net profit after taxes amounted to 27,098,088, compared to profits for the same period in 2023 of 30,072,458 pounds and a net profit of 23,306,155, with a growth rate of 16%.

Total assets in the first quarter of 2024 amounted to 343,771,911 pounds, compared to 308,427,621 pounds at the end of 2023, meaning a growth rate of 11%.

Total property rights amounted to 201,727,408 pounds during the first quarter of 2024, compared to 174,629,320 pounds at the end of 2023, a growth rate of 16%.

The activity of selling day-old chicks achieved 64% of the company’s total revenues on March 31, 2024, at a value of 101,769,064, compared to a value of 67,315,699 at the end of 2023, a growth rate of 51%.

While the company's broiler sale activity represented 25% of the total revenues of the first quarter of 2024, at a value of 39,810,625 pounds, compared to a value of 26,748,423 pounds at the end of 2023, a growth rate of 50%.

Speech by Mr. Eng. Islam Mohamed Naguib, Chairman of the Board of Directors

I would like to express my happiness with the outstanding financial results achieved by Mansoura Poultry Company during the first quarter of 2024. The company’s revenues jumped during the first quarter of 2024 to approximately 170 million pounds, compared to what was achieved during the first quarter of 2023, which amounted to 102.3 million pounds, a growth rate of 64%, while the company recorded a net profit before taxes of 34.9 million pounds, compared to profits of 30.07 pounds for the same period last year. This growth reflects the commitment and dedication of the company’s work team, who have made continuous efforts to provide products High quality for our customers.

This outstanding performance reflects the ability of the executive management to implement the business plan prepared by the Board of Directors by developing a successful strategy, and the Board’s keenness to work with the company in an institutional manner so that the company can adapt to various challenges and achieve positive results.

Mr. Engineer Islam Naguib explained that he also promised the shareholders, after studying the market data, his expectations during his last press statement that the company’s revenues will exceed 800 million pounds during the year 2024, if the mechanisms of supply, demand and market remain as they are until the end of the year based on the scarcity of the local product.

The company's revenues during the first quarter are approximately 170 million Egyptian pounds, and taking into account the different selling seasons during the year, it is expected to reach what has been aspired to, God willing.

The most important developments at the company level

The company’s management is currently seeking to complete the procedures for increasing the capital from 97 million pounds to 125 million pounds by distributing free shares to the shareholders at the rate of 0.28% of each share in the company at nominal value in light of the approval of the ordinary and extraordinary general assembly. Distributing dividends to the shareholders from the profits of the year 2023. .

The company is currently seeking to obtain new plots of land from the state to establish new farms compatible with export requirements, so that production surpluses can be exploited for the local market to include the foreign market as well, and to secure foreign currencies that will contribute to importing production requirements directly.

- The company is currently seeking to implement a system (rewarding and motivating the executive members of the Board of Directors, managers and employees of the company) in order to maintain the rare competencies currently working in the company to motivate them to increase the company’s profits in the coming years, after the company’s extraordinary general assembly approved the system of rewarding and motivating the executive members of the Board of Directors. And the managers and employees of the Mansoura Poultry Company through a promise to sell part of the company’s shares to the beneficiaries at the nominal value of the share

Future expectations and statements

 The information, data and opinions contained in this presentation do not constitute a general offer under any applicable legislation, nor does it constitute an offer to sell, or a recommendation of any kind to buy any securities or financial instruments, nor does it constitute advice or a recommendation in relation to such securities or other securities. Financial instruments. The information in this presentation relating to the price at which investments have been bought or sold in the past, or the return on such investments, should not be relied upon as an indicator of the future performance of those investments.