Mansourah Poultry reports 42.39% profit increase to US$4.88M in 2024
The Egyptian poultry company sees a strong rise in profits and revenues for the year.
EGYPT – Mansourah Poultry Company (MPCO) has reported a 42.39% increase in its year-on-year consolidated net profit for 2024, reaching US$ 4.88 million (EGP 152.717 million), compared to US$ 3.41 million (EGP 107.229 million) in 2023.
The company’s earnings per share (EPS) also saw growth, climbing from US$ 0.007 (EGP 0.220) at the close of 2023 to US$ 0.008 (EGP 0.244) by the end of 2024.
Mansourah Poultry’s revenue surged to US$ 24.51 million (EGP 755.483 million) in 2024, up from US$ 16.11 million (EGP 497.532 million) the year prior, reflecting a solid rise in its financial standing.
For standalone earnings, the company’s profits mirrored the trend, advancing from US$ 3.41 million (EGP 107.229 million) to US$ 4.89 million (EGP 152.951 million).
Mansourah Poultry Company, founded in April 1983 as an Egyptian joint stock entity, continues to hold a strong market position in the poultry sector.
The company’s shares have a nominal value of 0.20 EGP, and it has 625 million shares listed on the Egyptian stock exchange.
The company maintains an issued and paid-up capital of US$ 4.06 million (EGP 125 million), with its fiscal year starting on January 1 each year.
PKF Auditor Rashid, Badr & Co. oversees the company’s audits.
Mansourah Poultry operates within Egypt’s thriving poultry market, which has witnessed growth in per capita poultry meat consumption over recent years.
In 2021, consumption reached a record high of 21.3 kilograms per person, a 7.67% increase from the previous year.
The consumption of poultry meat in Egypt has experienced a steady upward trajectory since its low of 2.15 kilograms per capita in 1969.
Looking forward, the forecast for chicken meat consumption in Egypt anticipates further increases from 2024 through 2028, with projections rising from 1.62 million metric tons in 2024 to 1.76 million metric tons by 2028.
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