Mubasher: Alexandria Mineral Oils Co (AMOC) has amended its estimated budget to target profits of EGP 652.3 million during fiscal year 2016/2017 instead of EGP 182.8 million, according to a bourse statement issued on Sunday.
AMOC raised its targeted revenue to EGP 7.6 billion in the estimated budget, compared to EGP 3.9 billion in the budget approved for FY16/17.
In a previous statement, the company had said it targets investments worth EGP 127 million ($14.3 million) in FY16/17.
At the stock level, AMOC gained 2.02% to reach EGP 108.71.
