Cairo – Mubasher: Alexandria Mineral Oils Company (AMOC) has adjusted its estimated budget for fiscal year 2017/2018 and increased target profits to EGP 1.008 billion, instead of EGP 575.16 million.
The board has approved the modified scheme for FY17/18 with investments worth EGP 62.202 million, the state-run firm said in a filing to the Egyptian Exchange (EGX) on Wednesday.
AMOC’s financial statements have shown a 36.6% year-on-year rise in profits for the first half of FY17/18, recording EGP 745.48 million, compared to EGP 545.7 million in H1-16/17.
